NEM vs QQQ: Correlation
Newmont (NEM) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEM and QQQ?
Over the past 3 years, NEM and QQQ moved with a correlation of 0.25, which is weak. The link has tightened recently: the 1-year correlation (0.36) runs above the 3-year figure (0.25). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 211.4 %².
Among the 34 assets we track against NEM, QQQ ranks #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NEM outperformed by 58.4 percentage points (+84.7% for NEM against +26.3% for QQQ). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.04 to 0.53. Risk is not evenly split, since NEM carries 2.2 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.
NEM vs QQQ: side by side
| NEM (Newmont) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +84.7% | +26.3% |
| 5-year return | +165.9% | +95.4% |
| Volatility (ann.) | 43.0% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -36.6% | -22.8% |
| Market cap | $139.4B | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.78% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Materials | 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 | NEM | QQQ |
|---|---|---|
| 2022 | -20.8% | -32.6% |
| 2023 | -8.8% | +54.9% |
| 2024 | -7.8% | +25.6% |
| 2025 | +172.8% | +20.8% |
| 2026 | +33.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEM and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEM and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.36 over the last year and 0.26 over 5 years.
Is QQQ a good diversifier for NEM?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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/nem-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nem-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEM correlations · QQQ correlations
