NDLS vs QQQ: Correlation
Noodles & Company (NDLS) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDLS and QQQ?
On 3 years of weekly data the NDLS/QQQ correlation comes out at 0.15, weak. Little has changed lately, as the 1-year reading of 0.05 lands near the 3-year figure. The 5-year figure is 0.19, and annualized covariance runs at 279.9 %².
Out of 10 assets tracked against NDLS, QQQ lands near the bottom at #6. The last year tells two different stories: NDLS led by 133.7 percentage points, +160.0% for NDLS against +26.3% for QQQ. Risk is not evenly split, since NDLS carries 5.0 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.
NDLS vs QQQ: side by side
| NDLS (Noodles & Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +160.0% | +26.3% |
| 5-year return | -85.0% | +95.4% |
| Volatility (ann.) | 98.0% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -85.6% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | NDLS | QQQ |
|---|---|---|
| 2022 | -39.5% | -32.6% |
| 2023 | -42.6% | +54.9% |
| 2024 | -81.6% | +25.6% |
| 2025 | +22.4% | +20.8% |
| 2026 | +160.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDLS and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between NDLS and QQQ?
As of 2026-08-27, the correlation of weekly returns between NDLS and QQQ is 0.15 over 3 years, 0.05 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for NDLS?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
A reading of 0.15 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/ndls-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ndls-vs-qqq/)
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Related comparisons
Hubs: NDLS correlations · QQQ correlations
