NCLH vs QQQ: Correlation
Norwegian Cruise Line Holdings (NCLH) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCLH and QQQ?
On 3 years of weekly data the NCLH/QQQ correlation comes out at 0.37, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.37). The 5-year figure is 0.46, and annualized covariance runs at 365.4 %².
By 3-year correlation, QQQ places #23 of the 35 assets tracked against NCLH. Correlation aside, the last 12 months split them widely, with QQQ ahead by 59.4 points (-33.1% versus +26.3%). The rolling one-year correlation moved between 0.18 and 0.64 over the past three years, a moderate range. Note the risk asymmetry: NCLH runs 2.5 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.
NCLH vs QQQ: side by side
| NCLH (Norwegian Cruise Line Holdings) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -33.1% | +26.3% |
| 5-year return | -34.4% | +95.4% |
| Volatility (ann.) | 49.9% | 19.6% |
| Beta vs S&P 500 | 1.52 | 1.28 |
| Max drawdown (3Y) | -49.1% | -22.8% |
| Market cap | $7.6B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | NCLH | QQQ |
|---|---|---|
| 2022 | -41.0% | -32.6% |
| 2023 | +63.7% | +54.9% |
| 2024 | +28.4% | +25.6% |
| 2025 | -13.3% | +20.8% |
| 2026 | -25.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCLH and QQQ good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NCLH and QQQ?
As of 2026-08-27, the correlation of weekly returns between NCLH and QQQ is 0.37 over 3 years, 0.24 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for NCLH?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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/nclh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nclh-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NCLH correlations · QQQ correlations
