NAK vs QQQ: Correlation
Measured on weekly returns over the past three years, Northern Dynasty Minerals, Ltd. (NAK) and Invesco QQQ Trust (QQQ) carry a correlation of 0.16, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAK and QQQ?
Across a 3-year window, the weekly returns of NAK and QQQ correlate at 0.16, weak. Lately the two have moved closer together, with the 1-year correlation at 0.33 versus 0.16 over 3 years. Stretching to 5 years gives 0.19, with an annualized covariance of 311.5 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against NAK. The last year tells two different stories: NAK led by 70.3 percentage points, +96.6% for NAK against +26.3% for QQQ. Note the risk asymmetry: NAK runs 4.9 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.
NAK vs QQQ: side by side
| NAK (Northern Dynasty Minerals, Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +96.6% | +26.3% |
| 5-year return | +326.8% | +95.4% |
| Volatility (ann.) | 96.9% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -67.8% | -22.8% |
| Market cap | $1.0B | – |
| 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 | NAK | QQQ |
|---|---|---|
| 2022 | -33.3% | -32.6% |
| 2023 | +45.5% | +54.9% |
| 2024 | +81.2% | +25.6% |
| 2025 | +239.7% | +20.8% |
| 2026 | -11.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAK and QQQ good diversifiers for each other?
Yes. With a correlation of 0.16, NAK and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NAK and QQQ?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with 0.33 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for NAK?
Yes. With a correlation of 0.16, NAK and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
A reading of 0.16 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nak-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nak-vs-qqq/)
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Related comparisons
Hubs: NAK correlations · QQQ correlations
