NAT vs QQQ: Correlation
Measured on weekly returns over the past three years, Nordic American Tankers Limited (NAT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAT and QQQ?
Over the past 3 years, NAT and QQQ moved with a correlation of 0.13, which is weak. The relationship has been stable: the 1-year correlation (0.04) sits close to the 3-year figure. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 92.3 %².
Within NAT's tracked universe of 11 assets, QQQ comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NAT outperformed by 111.3 percentage points (+137.6% for NAT against +26.3% for QQQ). Risk is not evenly split, since NAT carries 1.8 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.
NAT vs QQQ: side by side
| NAT (Nordic American Tankers Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +137.6% | +26.3% |
| 5-year return | +351.2% | +95.4% |
| Volatility (ann.) | 36.0% | 19.6% |
| Beta vs S&P 500 | 0.30 | 1.28 |
| Max drawdown (3Y) | -46.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 9.51% | 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 | NAT | QQQ |
|---|---|---|
| 2022 | +87.9% | -32.6% |
| 2023 | +55.8% | +54.9% |
| 2024 | -33.6% | +25.6% |
| 2025 | +44.6% | +20.8% |
| 2026 | +111.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAT and QQQ good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NAT and QQQ?
As of 2026-08-27, the correlation of weekly returns between NAT and QQQ is 0.13 over 3 years, 0.04 over 1 year and 0.08 over 5 years.
Is QQQ a good diversifier for NAT?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 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/nat-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nat-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAT correlations · QQQ correlations
