NCSM vs QQQ: Correlation
Measured on weekly returns over the past three years, NCS Multistage Holdings, Inc. (NCSM) and Invesco QQQ Trust (QQQ) carry a correlation of -0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCSM and QQQ?
Over the past 3 years, NCSM and QQQ moved with a correlation of -0.00, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.20 versus -0.00 over 3 years. Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is -3.1 %².
Among the 16 assets we track against NCSM, QQQ ranks #7 by 3-year correlation. On 12-month performance NCSM holds a 8.2-point edge, +34.5% against +26.3%. Note the risk asymmetry: NCSM runs 3.4 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.
NCSM vs QQQ: side by side
| NCSM (NCS Multistage Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.5% | +26.3% |
| 5-year return | +112.6% | +95.4% |
| Volatility (ann.) | 66.0% | 19.6% |
| Beta vs S&P 500 | 0.05 | 1.28 |
| Max drawdown (3Y) | -53.3% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.7 | – |
| 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 | NCSM | QQQ |
|---|---|---|
| 2022 | -13.8% | -32.6% |
| 2023 | -28.6% | +54.9% |
| 2024 | +45.4% | +25.6% |
| 2025 | +52.1% | +20.8% |
| 2026 | +28.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCSM and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between NCSM and QQQ?
The NCSM/QQQ correlation stands at -0.00 on a 3-year window (1 year: -0.20, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NCSM?
By historical standards, yes. A correlation of -0.00 means the two rarely move for the same reasons.
What does a correlation of -0.00 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: NCSM correlations · QQQ correlations
