NEXA vs QQQ: Correlation
Nexa Resources S.A. (NEXA) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXA and QQQ?
Over the past 3 years, NEXA and QQQ moved with a correlation of 0.29, which is weak. The link has tightened recently: the 1-year correlation (0.44) runs above the 3-year figure (0.29). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 303.2 %².
QQQ is close to the least connected end of NEXA's tracked universe, ranking #7 of 10. The last year tells two different stories: NEXA led by 168.7 percentage points, +195.0% for NEXA against +26.3% for QQQ. One caveat on sizing: NEXA is 2.7 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.
NEXA vs QQQ: side by side
| NEXA (Nexa Resources S.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +195.0% | +26.3% |
| 5-year return | +88.5% | +95.4% |
| Volatility (ann.) | 52.5% | 19.6% |
| Beta vs S&P 500 | 1.09 | 1.28 |
| Max drawdown (3Y) | -47.0% | -22.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | 6.7 | – |
| 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 | NEXA | QQQ |
|---|---|---|
| 2022 | -20.1% | -32.6% |
| 2023 | +22.1% | +54.9% |
| 2024 | +23.2% | +25.6% |
| 2025 | +2.7% | +20.8% |
| 2026 | +58.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXA and QQQ good diversifiers for each other?
Reasonably. At 0.29, NEXA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NEXA and QQQ?
The NEXA/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.44, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NEXA?
Reasonably. At 0.29, NEXA and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
A reading of 0.29 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/nexa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nexa-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEXA correlations · QQQ correlations
