NEU vs QQQ: Correlation
Measured on weekly returns over the past three years, NewMarket Corp (NEU) and Invesco QQQ Trust (QQQ) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEU and QQQ?
On 3 years of weekly data the NEU/QQQ correlation comes out at 0.27, weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 144.8 %².
Among the 10 assets we track against NEU, QQQ sits near the bottom by co-movement, at rank #7. The trailing year gives QQQ the advantage: +14.1% versus +26.3%, a 12.2-point spread.
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.
NEU vs QQQ: side by side
| NEU (NewMarket Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.1% | +26.3% |
| 5-year return | +195.8% | +95.4% |
| Volatility (ann.) | 27.9% | 19.6% |
| Beta vs S&P 500 | 0.58 | 1.28 |
| Max drawdown (3Y) | -32.8% | -22.8% |
| Market cap | $8.5B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.27% | 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 | NEU | QQQ |
|---|---|---|
| 2022 | -6.7% | -32.6% |
| 2023 | +79.1% | +54.9% |
| 2024 | -1.5% | +25.6% |
| 2025 | +32.3% | +20.8% |
| 2026 | +35.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEU and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEU and QQQ?
As of 2026-08-27, the correlation of weekly returns between NEU and QQQ is 0.27 over 3 years, 0.18 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for NEU?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NEU correlations · QQQ correlations
