NKE vs QQQ: Correlation
Measured on weekly returns over the past three years, Nike, Inc. (NKE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKE and QQQ?
Across a 3-year window, the weekly returns of NKE and QQQ correlate at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 219.7 %².
Within NKE's tracked universe of 33 assets, QQQ comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 75.7 points (-49.4% versus +26.3%). Across three years, the rolling one-year figure varied moderately, from 0.08 to 0.50. Note the risk asymmetry: NKE runs 1.9 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.
NKE vs QQQ: side by side
| NKE (Nike, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -49.4% | +26.3% |
| 5-year return | -75.2% | +95.4% |
| Volatility (ann.) | 36.6% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -66.9% | -22.8% |
| Market cap | $57.0B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 4.22% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | NKE | QQQ |
|---|---|---|
| 2022 | -29.0% | -32.6% |
| 2023 | -6.0% | +54.9% |
| 2024 | -29.1% | +25.6% |
| 2025 | -13.8% | +20.8% |
| 2026 | -38.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKE and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NKE and QQQ?
The NKE/QQQ correlation stands at 0.31 on a 3-year window (1 year: 0.30, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NKE?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/nke-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nke-vs-qqq/)
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Related comparisons
Hubs: NKE correlations · QQQ correlations
