KNX vs QQQ: Correlation
Measured on weekly returns over the past three years, Knight-Swift Transportation Holdings Inc. (KNX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNX and QQQ?
On 3 years of weekly data the KNX/QQQ correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.08) than the 3-year average (0.35). The 5-year figure is 0.41, and annualized covariance runs at 215.7 %².
Out of 17 assets tracked against KNX, QQQ lands near the bottom at #13. The last year tells two different stories: KNX led by 31.6 percentage points, +57.9% for KNX against +26.3% for QQQ. One caveat on sizing: KNX is 1.6 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.
KNX vs QQQ: side by side
| KNX (Knight-Swift Transportation Holdings Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.9% | +26.3% |
| 5-year return | +37.4% | +95.4% |
| Volatility (ann.) | 31.7% | 19.6% |
| Beta vs S&P 500 | 1.00 | 1.28 |
| Max drawdown (3Y) | -35.7% | -22.8% |
| Market cap | $11.2B | – |
| P/E (trailing) | 255.2 | – |
| Dividend yield | 1.09% | 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 | KNX | QQQ |
|---|---|---|
| 2022 | -13.2% | -32.6% |
| 2023 | +11.1% | +54.9% |
| 2024 | -6.9% | +25.6% |
| 2025 | +0.1% | +20.8% |
| 2026 | +32.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KNX and QQQ?
The KNX/QQQ correlation stands at 0.35 on a 3-year window (1 year: 0.08, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for KNX?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: KNX correlations · QQQ correlations
