NKSH vs QQQ: Correlation
Measured on weekly returns over the past three years, National Bankshares, Inc. (NKSH) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NKSH and QQQ?
Over the past 3 years, NKSH and QQQ moved with a correlation of 0.21, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.00 versus 0.21 over 3 years. Over 5 years the correlation is 0.11, and the annualized covariance of weekly returns is 136.1 %².
QQQ is close to the least connected end of NKSH's tracked universe, ranking #10 of 13. Over the last 12 months NKSH came out ahead by 10.3 percentage points (+36.6% against +26.3%). Risk is not evenly split, since NKSH carries 1.7 times the volatility of the other side.
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.
NKSH vs QQQ: side by side
| NKSH (National Bankshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +36.6% | +26.3% |
| 5-year return | +44.9% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 0.73 | 1.28 |
| Max drawdown (3Y) | -31.0% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 3.75% | 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 | NKSH | QQQ |
|---|---|---|
| 2022 | +17.2% | -32.6% |
| 2023 | -13.1% | +54.9% |
| 2024 | -6.8% | +25.6% |
| 2025 | +23.3% | +20.8% |
| 2026 | +24.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NKSH and QQQ good diversifiers for each other?
Reasonably. At 0.21, NKSH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NKSH and QQQ?
The NKSH/QQQ correlation stands at 0.21 on a 3-year window (1 year: 0.00, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NKSH?
Reasonably. At 0.21, NKSH and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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/nksh-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nksh-vs-qqq/)
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Related comparisons
Hubs: NKSH correlations · QQQ correlations
