NEWP vs QQQ: Correlation
Measured on weekly returns over the past three years, New Pacific Metals Corp. (NEWP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWP and QQQ?
Over the past 3 years, NEWP and QQQ moved with a correlation of 0.33, which is moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 500.7 %².
QQQ is close to the least connected end of NEWP's tracked universe, ranking #9 of 12. The last year tells two different stories: NEWP led by 292.3 percentage points, +318.6% for NEWP against +26.3% for QQQ. One caveat on sizing: NEWP is 3.9 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.
NEWP vs QQQ: side by side
| NEWP (New Pacific Metals Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +318.6% | +26.3% |
| 5-year return | +96.6% | +95.4% |
| Volatility (ann.) | 76.6% | 19.6% |
| Beta vs S&P 500 | 1.96 | 1.28 |
| Max drawdown (3Y) | -64.6% | -22.8% |
| Market cap | $1.4B | – |
| 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 | NEWP | QQQ |
|---|---|---|
| 2022 | -23.5% | -32.6% |
| 2023 | -15.1% | +54.9% |
| 2024 | -38.2% | +25.6% |
| 2025 | +197.5% | +20.8% |
| 2026 | +111.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWP and QQQ good diversifiers for each other?
Reasonably. At 0.33, NEWP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NEWP and QQQ?
The NEWP/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.38, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NEWP?
Reasonably. At 0.33, NEWP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/newp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/newp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEWP correlations · QQQ correlations
