KWEB vs QQQ: Correlation
KraneShares CSI China Internet ETF (KWEB) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWEB and QQQ?
Across a 3-year window, the weekly returns of KWEB and QQQ correlate at 0.36, moderate. The past 12 months show a tighter link (0.46) than the 3-year average (0.36). Stretching to 5 years gives 0.32, with an annualized covariance of 240.1 %².
By 3-year correlation, QQQ places #24 of the 40 assets tracked against KWEB. The last year tells two different stories: QQQ led by 52.4 percentage points, -26.1% for KWEB against +26.3% for QQQ. The rolling one-year correlation moved between 0.21 and 0.68 over the past three years, a moderate range. Risk is not evenly split, since KWEB carries 1.7 times the volatility of the other side.
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.
KWEB vs QQQ: side by side
| KWEB (KraneShares CSI China Internet ETF) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -26.1% | +26.3% |
| 5-year return | -36.2% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 0.90 | 1.28 |
| Max drawdown (3Y) | -41.6% | -22.8% |
| Dividend yield | – | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | ETF · Thematic | 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 | KWEB | QQQ |
|---|---|---|
| 2022 | -17.2% | -32.6% |
| 2023 | -9.1% | +54.9% |
| 2024 | +12.0% | +25.6% |
| 2025 | +23.5% | +20.8% |
| 2026 | -23.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWEB and QQQ good diversifiers for each other?
Reasonably. At 0.36, KWEB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KWEB and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.46 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for KWEB?
Reasonably. At 0.36, KWEB and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kweb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kweb-vs-qqq/)
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Related comparisons
Hubs: KWEB correlations · QQQ correlations
