NEXM vs QQQ: Correlation
Measured on weekly returns over the past three years, NexMetals Mining Corp. (NEXM) and Invesco QQQ Trust (QQQ) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXM and QQQ?
Across a 3-year window, the weekly returns of NEXM and QQQ correlate at 0.22, weak. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 308.9 %².
Among the 11 assets we track against NEXM, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 80.1 percentage points (-53.8% for NEXM against +26.3% for QQQ). One caveat on sizing: NEXM is 3.7 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.
NEXM vs QQQ: side by side
| NEXM (NexMetals Mining Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -53.8% | +26.3% |
| 5-year return | -87.5% | +95.4% |
| Volatility (ann.) | 73.4% | 19.6% |
| Beta vs S&P 500 | 1.07 | 1.28 |
| Max drawdown (3Y) | -92.1% | -22.8% |
| Market cap | $0.1B | – |
| 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 | NEXM | QQQ |
|---|---|---|
| 2022 | -29.6% | -32.6% |
| 2023 | -22.1% | +54.9% |
| 2024 | -67.8% | +25.6% |
| 2025 | -34.8% | +20.8% |
| 2026 | -36.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXM and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NEXM and QQQ?
As of 2026-08-27, the correlation of weekly returns between NEXM and QQQ is 0.22 over 3 years, 0.29 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for NEXM?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nexm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nexm-vs-qqq/)
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Related comparisons
Hubs: NEXM correlations · QQQ correlations
