NATL vs QQQ: Correlation
How closely do NCR Atleos Corporation (NATL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATL and QQQ?
On 3 years of weekly data the NATL/QQQ correlation comes out at 0.26, weak. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.26 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 183.9 %².
Among the 11 assets we track against NATL, QQQ sits near the bottom by co-movement, at rank #8. The trailing year gives QQQ the advantage: +14.2% versus +26.3%, a 12.1-point spread. Risk is not evenly split, since NATL carries 1.9 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.
NATL vs QQQ: side by side
| NATL (NCR Atleos Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.2% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 36.3% | 19.6% |
| Beta vs S&P 500 | 0.75 | 1.28 |
| Max drawdown (3Y) | -34.7% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 17.8 | – |
| 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 | NATL | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +39.6% | +25.6% |
| 2025 | +12.4% | +20.8% |
| 2026 | +20.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATL and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NATL and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.08 over the last year and n/a over 5 years.
Is QQQ a good diversifier for NATL?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 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.
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Related comparisons
Hubs: NATL correlations · QQQ correlations
