NGVC vs QQQ: Correlation
Measured on weekly returns over the past three years, Natural Grocers by Vitamin Cottage, Inc. (NGVC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGVC and QQQ?
Across a 3-year window, the weekly returns of NGVC and QQQ correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.09) than the 3-year average (0.09). Stretching to 5 years gives 0.15, with an annualized covariance of 86.8 %².
Among the 10 assets we track against NGVC, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 56.1 percentage points (-29.8% for NGVC against +26.3% for QQQ). Note the risk asymmetry: NGVC runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NGVC vs QQQ: side by side
| NGVC (Natural Grocers by Vitamin Cottage, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -29.8% | +26.3% |
| 5-year return | +184.3% | +95.4% |
| Volatility (ann.) | 51.4% | 19.6% |
| Beta vs S&P 500 | 0.61 | 1.28 |
| Max drawdown (3Y) | -59.9% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 2.05% | 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 | NGVC | QQQ |
|---|---|---|
| 2022 | -34.0% | -32.6% |
| 2023 | +91.8% | +54.9% |
| 2024 | +152.5% | +25.6% |
| 2025 | -36.1% | +20.8% |
| 2026 | +10.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVC and QQQ good diversifiers for each other?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NGVC and QQQ?
As of 2026-08-27, the correlation of weekly returns between NGVC and QQQ is 0.09 over 3 years, -0.09 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for NGVC?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.09 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.
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Hubs: NGVC correlations · QQQ correlations
