NE vs QQQ: Correlation
Measured on weekly returns over the past three years, Noble Corporation plc A (NE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NE and QQQ?
Over the past 3 years, NE and QQQ moved with a correlation of 0.24, which is weak. The past 12 months show a weaker link (-0.11) than the 3-year average (0.24). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 193.2 %².
Out of 16 assets tracked against NE, QQQ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with NE ahead by 45.8 points (+72.1% versus +26.3%). One caveat on sizing: NE is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NE vs QQQ: side by side
| NE (Noble Corporation plc A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +72.1% | +26.3% |
| 5-year return | +134.0% | +95.4% |
| Volatility (ann.) | 40.7% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -63.2% | -22.8% |
| Market cap | $7.5B | – |
| P/E (trailing) | 48.2 | – |
| Dividend yield | 4.43% | 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 | NE | QQQ |
|---|---|---|
| 2022 | +52.0% | -32.6% |
| 2023 | +29.5% | +54.9% |
| 2024 | -31.6% | +25.6% |
| 2025 | -3.2% | +20.8% |
| 2026 | +69.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NE and QQQ?
The NE/QQQ correlation stands at 0.24 on a 3-year window (1 year: -0.11, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NE?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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.
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Related comparisons
Hubs: NE correlations · QQQ correlations
