NCNO vs QQQ: Correlation
How closely do nCino, Inc. (NCNO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCNO and QQQ?
On 3 years of weekly data the NCNO/QQQ correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.37 over 3. The 5-year figure is 0.50, and annualized covariance runs at 336.6 %².
Out of 11 assets tracked against NCNO, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 55.0 percentage points (-28.7% for NCNO against +26.3% for QQQ). Risk is not evenly split, since NCNO carries 2.4 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.
NCNO vs QQQ: side by side
| NCNO (nCino, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -28.7% | +26.3% |
| 5-year return | -62.7% | +95.4% |
| Volatility (ann.) | 46.7% | 19.6% |
| Beta vs S&P 500 | 1.44 | 1.28 |
| Max drawdown (3Y) | -67.1% | -22.8% |
| Market cap | $2.5B | – |
| P/E (trailing) | 68.6 | – |
| 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 | NCNO | QQQ |
|---|---|---|
| 2022 | -51.8% | -32.6% |
| 2023 | +27.2% | +54.9% |
| 2024 | -0.1% | +25.6% |
| 2025 | -23.6% | +20.8% |
| 2026 | -9.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCNO 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 NCNO and QQQ?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.31 over the last year and 0.50 over 5 years.
Is QQQ a good diversifier for NCNO?
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.
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Related comparisons
Hubs: NCNO correlations · QQQ correlations
