NBH vs QQQ: Correlation
How closely do Neuberger Municipal Fund Inc. (NBH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBH and QQQ?
Over the past 3 years, NBH and QQQ moved with a correlation of 0.31, which is moderate. The past 12 months show a tighter link (0.49) than the 3-year average (0.31). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 68.5 %².
QQQ is close to the least connected end of NBH's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 16.1 percentage points (+10.2% for NBH against +26.3% for QQQ). Note the risk asymmetry: QQQ runs 1.7 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.
NBH vs QQQ: side by side
| NBH (Neuberger Municipal Fund Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.2% | +26.3% |
| 5-year return | -21.0% | +95.4% |
| Volatility (ann.) | 11.4% | 19.6% |
| Beta vs S&P 500 | 0.30 | 1.28 |
| Max drawdown (3Y) | -11.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 14.6 | – |
| Dividend yield | 6.35% | 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 | NBH | QQQ |
|---|---|---|
| 2022 | -28.2% | -32.6% |
| 2023 | +4.0% | +54.9% |
| 2024 | +5.3% | +25.6% |
| 2025 | +4.2% | +20.8% |
| 2026 | +4.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBH and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NBH and QQQ?
As of 2026-08-27, the correlation of weekly returns between NBH and QQQ is 0.31 over 3 years, 0.49 over 1 year and 0.37 over 5 years.
Is QQQ a good diversifier for NBH?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/nbh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nbh-vs-qqq/)
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Related comparisons
Hubs: NBH correlations · QQQ correlations
