NBR vs QQQ: Correlation
Nabors Industries Ltd. (NBR) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBR and QQQ?
Over the past 3 years, NBR and QQQ moved with a correlation of 0.11, which is weak. The relationship has been stable: the 1-year correlation (0.02) sits close to the 3-year figure. Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 139.9 %².
Among the 18 assets we track against NBR, QQQ sits near the bottom by co-movement, at rank #15. The last year tells two different stories: NBR led by 127.0 percentage points, +153.3% for NBR against +26.3% for QQQ. Risk is not evenly split, since NBR carries 3.3 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.
NBR vs QQQ: side by side
| NBR (Nabors Industries Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +153.3% | +26.3% |
| 5-year return | +10.3% | +95.4% |
| Volatility (ann.) | 65.2% | 19.6% |
| Beta vs S&P 500 | 0.88 | 1.28 |
| Max drawdown (3Y) | -82.2% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 5.9 | – |
| 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 | NBR | QQQ |
|---|---|---|
| 2022 | +91.0% | -32.6% |
| 2023 | -47.3% | +54.9% |
| 2024 | -30.0% | +25.6% |
| 2025 | -5.0% | +20.8% |
| 2026 | +68.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBR and QQQ good diversifiers for each other?
Yes. With a correlation of 0.11, NBR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NBR and QQQ?
As of 2026-08-27, the correlation of weekly returns between NBR and QQQ is 0.11 over 3 years, 0.02 over 1 year and 0.17 over 5 years.
Is QQQ a good diversifier for NBR?
Yes. With a correlation of 0.11, NBR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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/nbr-vs-qqq.json
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[](https://www.pairbook.io/pair/nbr-vs-qqq/)
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Related comparisons
Hubs: NBR correlations · QQQ correlations
