KOP vs QQQ: Correlation
How closely do Koppers Holdings Inc. (KOP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOP and QQQ?
Over the past 3 years, KOP and QQQ moved with a correlation of 0.30, which is moderate. The past 12 months show a weaker link (0.12) than the 3-year average (0.30). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 199.0 %².
QQQ is close to the least connected end of KOP's tracked universe, ranking #7 of 10. The last year tells two different stories: KOP led by 33.8 percentage points, +60.1% for KOP against +26.3% for QQQ. One caveat on sizing: KOP is 1.7 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.
KOP vs QQQ: side by side
| KOP (Koppers Holdings Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +60.1% | +26.3% |
| 5-year return | +47.0% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 0.89 | 1.28 |
| Max drawdown (3Y) | -58.4% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.73% | 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 | KOP | QQQ |
|---|---|---|
| 2022 | -9.2% | -32.6% |
| 2023 | +82.8% | +54.9% |
| 2024 | -36.3% | +25.6% |
| 2025 | -15.5% | +20.8% |
| 2026 | +71.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOP and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KOP and QQQ?
The KOP/QQQ correlation stands at 0.30 on a 3-year window (1 year: 0.12, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for KOP?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KOP correlations · QQQ correlations
