LW vs QQQ: Correlation
Measured on weekly returns over the past three years, Lamb Weston Holdings, Inc. (LW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LW and QQQ?
Across a 3-year window, the weekly returns of LW and QQQ correlate at 0.11, weak. The relationship has been stable: the 1-year correlation (0.01) sits close to the 3-year figure. Stretching to 5 years gives 0.17, with an annualized covariance of 96.2 %².
By 3-year correlation, QQQ places #7 of the 17 assets tracked against LW. The last year tells two different stories: QQQ led by 26.6 percentage points, -0.3% for LW against +26.3% for QQQ. Risk is not evenly split, since LW carries 2.2 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.
LW vs QQQ: side by side
| LW (Lamb Weston Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.3% | +26.3% |
| 5-year return | -6.1% | +95.4% |
| Volatility (ann.) | 43.2% | 19.6% |
| Beta vs S&P 500 | 0.44 | 1.28 |
| Max drawdown (3Y) | -63.1% | -22.8% |
| Market cap | $7.5B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 2.71% | 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 | LW | QQQ |
|---|---|---|
| 2022 | +42.9% | -32.6% |
| 2023 | +22.3% | +54.9% |
| 2024 | -37.0% | +25.6% |
| 2025 | -35.7% | +20.8% |
| 2026 | +34.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LW and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between LW and QQQ?
The LW/QQQ correlation stands at 0.11 on a 3-year window (1 year: 0.01, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for LW?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lw-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LW correlations · QQQ correlations
