NIM vs QQQ: Correlation
Nuveen Select Maturities Municipal Fund (NIM) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIM and QQQ?
Across a 3-year window, the weekly returns of NIM and QQQ correlate at 0.22, weak. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 35.5 %².
QQQ is close to the least connected end of NIM's tracked universe, ranking #9 of 13. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.8 points (+5.5% versus +26.3%). Note the risk asymmetry: QQQ runs 2.3 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.
NIM vs QQQ: side by side
| NIM (Nuveen Select Maturities Municipal Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.5% | +26.3% |
| 5-year return | +1.3% | +95.4% |
| Volatility (ann.) | 8.4% | 19.6% |
| Beta vs S&P 500 | 0.16 | 1.28 |
| Max drawdown (3Y) | -6.8% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 3.66% | 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 | NIM | QQQ |
|---|---|---|
| 2022 | -12.9% | -32.6% |
| 2023 | +0.8% | +54.9% |
| 2024 | +2.8% | +25.6% |
| 2025 | +10.9% | +20.8% |
| 2026 | +2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIM and QQQ good diversifiers for each other?
Reasonably. At 0.22, NIM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NIM and QQQ?
As of 2026-08-27, the correlation of weekly returns between NIM and QQQ is 0.22 over 3 years, 0.27 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for NIM?
Reasonably. At 0.22, NIM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/nim-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nim-vs-qqq/)
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Related comparisons
Hubs: NIM correlations · QQQ correlations
