NA vs QQQ: Correlation
Measured on weekly returns over the past three years, Nano Labs Ltd - Class A (NA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NA and QQQ?
Across a 3-year window, the weekly returns of NA and QQQ correlate at 0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.04) sits close to the 3-year figure. Stretching to 5 years gives 0.09, with an annualized covariance of 95.6 %².
By 3-year correlation, QQQ places #11 of the 17 assets tracked against NA. Correlation aside, the last 12 months split them widely, with QQQ ahead by 91.6 points (-65.3% versus +26.3%). Risk is not evenly split, since NA carries 9.2 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.
NA vs QQQ: side by side
| NA (Nano Labs Ltd - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -65.3% | +26.3% |
| 5-year return | -98.2% | +95.4% |
| Volatility (ann.) | 181.1% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -92.7% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 2.1 | – |
| 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 | NA | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +57.4% | +54.9% |
| 2024 | -50.5% | +25.6% |
| 2025 | -64.8% | +20.8% |
| 2026 | -32.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NA and QQQ good diversifiers for each other?
Yes. With a correlation of 0.03, NA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NA and QQQ?
Using weekly returns as of 2026-08-27: 0.03 over 3 years, with 0.04 over the last year and 0.09 over 5 years.
Is QQQ a good diversifier for NA?
Yes. With a correlation of 0.03, NA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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/na-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/na-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NA correlations · QQQ correlations
