NFLX vs QQQ: Correlation
How closely do Netflix (NFLX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFLX and QQQ?
On 3 years of weekly data the NFLX/QQQ correlation comes out at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.40). The 5-year figure is 0.54, and annualized covariance runs at 276.9 %².
Within NFLX's tracked universe of 33 assets, QQQ comes in at #18 by 3-year correlation. The last year tells two different stories: QQQ led by 61.0 percentage points, -34.7% for NFLX against +26.3% for QQQ. This link changes with the market regime, having swung between 0.08 and 0.71 on a rolling one-year basis. One caveat on sizing: NFLX is 1.8 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.
NFLX vs QQQ: side by side
| NFLX (Netflix) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -34.7% | +26.3% |
| 5-year return | +41.0% | +95.4% |
| Volatility (ann.) | 35.2% | 19.6% |
| Beta vs S&P 500 | 0.99 | 1.28 |
| Max drawdown (3Y) | -49.5% | -22.8% |
| Market cap | $332.4B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Communication Services | 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 | NFLX | QQQ |
|---|---|---|
| 2022 | -51.1% | -32.6% |
| 2023 | +65.1% | +54.9% |
| 2024 | +83.1% | +25.6% |
| 2025 | +5.2% | +20.8% |
| 2026 | -14.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
NFLX represents 1.52% of QQQ's portfolio, so part of any move in QQQ is NFLX itself, and the correlation between them is partly mechanical.
Are NFLX and QQQ good diversifiers for each other?
Reasonably. At 0.40, NFLX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NFLX and QQQ?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.10 over the last year and 0.54 over 5 years.
Is QQQ a good diversifier for NFLX?
Reasonably. At 0.40, NFLX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/nflx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nflx-vs-qqq/)
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Related comparisons
Hubs: NFLX correlations · QQQ correlations
