META vs QQQX: Correlation
Meta Platforms (META) and Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are META and QQQX?
Over the past 3 years, META and QQQX moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 371.2 %².
Within META's tracked universe of 33 assets, QQQX comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQX ahead by 47.7 points (-23.3% versus +24.4%). Note the risk asymmetry: META runs 2.0 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.
META vs QQQX: side by side
| META (Meta Platforms) | QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | -23.3% | +24.4% |
| 5-year return | +51.3% | +51.0% |
| Volatility (ann.) | 36.9% | 18.1% |
| Beta vs S&P 500 | 1.45 | 1.09 |
| Max drawdown (3Y) | -34.2% | -22.8% |
| Market cap | $1,454.9B | $1.5B |
| P/E (trailing) | 21.7 | 8.1 |
| Dividend yield | 0.36% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | META | QQQX |
|---|---|---|
| 2022 | -64.2% | -27.4% |
| 2023 | +194.1% | +21.7% |
| 2024 | +66.0% | +25.6% |
| 2025 | +13.1% | +14.9% |
| 2026 | -13.3% | +13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are META and QQQX good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between META and QQQX?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.61 over the last year and 0.49 over 5 years.
Is QQQX a good diversifier for META?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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/meta-vs-qqqx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/meta-vs-qqqx/)
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Related comparisons
Hubs: META correlations · QQQX correlations
