KWY vs QQQ: Correlation
Measured on weekly returns over the past three years, Kingsway Corporation (KWY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWY and QQQ?
Across a 3-year window, the weekly returns of KWY and QQQ correlate at 0.31, moderate. The past 12 months show a tighter link (0.44) than the 3-year average (0.31). Stretching to 5 years gives 0.20, with an annualized covariance of 226.5 %².
QQQ is close to the least connected end of KWY's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with QQQ ahead by 55.6 points (-29.3% versus +26.3%). Note the risk asymmetry: KWY runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
KWY vs QQQ: side by side
| KWY (Kingsway Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -29.3% | +26.3% |
| 5-year return | +80.2% | +95.4% |
| Volatility (ann.) | 37.8% | 19.6% |
| Beta vs S&P 500 | 0.90 | 1.28 |
| Max drawdown (3Y) | -48.0% | -22.8% |
| Market cap | $0.3B | – |
| 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 | KWY | QQQ |
|---|---|---|
| 2022 | +44.7% | -32.6% |
| 2023 | +5.9% | +54.9% |
| 2024 | -0.4% | +25.6% |
| 2025 | +60.7% | +20.8% |
| 2026 | -25.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWY and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KWY and QQQ?
The KWY/QQQ correlation stands at 0.31 on a 3-year window (1 year: 0.44, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for KWY?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 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/kwy-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kwy-vs-qqq/)
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Related comparisons
Hubs: KWY correlations · QQQ correlations
