KLXE vs QQQ: Correlation
Measured on weekly returns over the past three years, KLX Energy Services Holdings, Inc. (KLXE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.08, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLXE and QQQ?
On 3 years of weekly data the KLXE/QQQ correlation comes out at 0.08, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.06) than the 3-year average (0.08). The 5-year figure is 0.05, and annualized covariance runs at 130.9 %².
Out of 11 assets tracked against KLXE, QQQ lands near the bottom at #8. The last year tells two different stories: QQQ led by 48.6 percentage points, -22.3% for KLXE against +26.3% for QQQ. One caveat on sizing: KLXE is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
KLXE vs QQQ: side by side
| KLXE (KLX Energy Services Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -22.3% | +26.3% |
| 5-year return | -76.5% | +95.4% |
| Volatility (ann.) | 84.9% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -88.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | KLXE | QQQ |
|---|---|---|
| 2022 | +458.4% | -32.6% |
| 2023 | -35.0% | +54.9% |
| 2024 | -55.8% | +25.6% |
| 2025 | -62.0% | +20.8% |
| 2026 | -20.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLXE and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
FAQ
What is the correlation between KLXE and QQQ?
As of 2026-08-27, the correlation of weekly returns between KLXE and QQQ is 0.08 over 3 years, -0.06 over 1 year and 0.05 over 5 years.
Is QQQ a good diversifier for KLXE?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/klxe-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/klxe-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KLXE correlations · QQQ correlations
