NN vs QQQ: Correlation
How closely do NextNav Inc. (NN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NN and QQQ?
Over the past 3 years, NN and QQQ moved with a correlation of 0.26, which is weak. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 382.7 %².
QQQ is close to the least connected end of NN's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with QQQ ahead by 38.0 points (-11.7% versus +26.3%). Risk is not evenly split, since NN carries 3.8 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.
NN vs QQQ: side by side
| NN (NextNav Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.7% | +26.3% |
| 5-year return | +56.5% | +95.4% |
| Volatility (ann.) | 75.3% | 19.6% |
| Beta vs S&P 500 | 1.45 | 1.28 |
| Max drawdown (3Y) | -47.8% | -22.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | – | – |
| 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 | NN | QQQ |
|---|---|---|
| 2022 | -66.6% | -32.6% |
| 2023 | +51.9% | +54.9% |
| 2024 | +249.7% | +25.6% |
| 2025 | +6.9% | +20.8% |
| 2026 | -5.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NN and QQQ?
As of 2026-08-27, the correlation of weekly returns between NN and QQQ is 0.26 over 3 years, 0.31 over 1 year and 0.22 over 5 years.
Is QQQ a good diversifier for NN?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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/nn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nn-vs-qqq/)
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Related comparisons
Hubs: NN correlations · QQQ correlations
