NMAI vs QQQ: Correlation
Nuveen Multi-Asset Income Fund (NMAI) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMAI and QQQ?
Over the past 3 years, NMAI and QQQ moved with a correlation of 0.62, which is strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 171.4 %².
Within NMAI's tracked universe of 12 assets, QQQ comes in at #7 by 3-year correlation. Neither side won the trailing year by much: +25.5% against +26.3%.
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.
NMAI vs QQQ: side by side
| NMAI (Nuveen Multi-Asset Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +25.5% | +26.3% |
| 5-year return | +36.4% | +95.4% |
| Volatility (ann.) | 14.2% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -13.0% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 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 | NMAI | QQQ |
|---|---|---|
| 2022 | -26.4% | -32.6% |
| 2023 | +19.5% | +54.9% |
| 2024 | +11.7% | +25.6% |
| 2025 | +20.0% | +20.8% |
| 2026 | +17.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMAI and QQQ good diversifiers for each other?
Only partially. A correlation of 0.62 means NMAI and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NMAI and QQQ?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.67 over the last year and 0.64 over 5 years.
Is QQQ a good diversifier for NMAI?
Only partially. A correlation of 0.62 means NMAI and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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/nmai-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nmai-vs-qqq/)
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Related comparisons
Hubs: NMAI correlations · QQQ correlations
