NNI vs QQQ: Correlation
Measured on weekly returns over the past three years, Nelnet, Inc. (NNI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNI and QQQ?
On 3 years of weekly data the NNI/QQQ correlation comes out at 0.25, weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.25). The 5-year figure is 0.35, and annualized covariance runs at 107.4 %².
QQQ is close to the least connected end of NNI's tracked universe, ranking #13 of 17. The last year tells two different stories: QQQ led by 26.5 percentage points, -0.2% for NNI against +26.3% for QQQ.
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.
NNI vs QQQ: side by side
| NNI (Nelnet, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.2% | +26.3% |
| 5-year return | +67.8% | +95.4% |
| Volatility (ann.) | 22.0% | 19.6% |
| Beta vs S&P 500 | 0.59 | 1.28 |
| Max drawdown (3Y) | -18.5% | -22.8% |
| Market cap | $4.6B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 1.01% | 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 | NNI | QQQ |
|---|---|---|
| 2022 | -6.0% | -32.6% |
| 2023 | -1.6% | +54.9% |
| 2024 | +22.4% | +25.6% |
| 2025 | +25.7% | +20.8% |
| 2026 | -3.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NNI and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.03 over the last year and 0.35 over 5 years.
Is QQQ a good diversifier for NNI?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
A reading of 0.25 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/nni-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nni-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NNI correlations · QQQ correlations
