NOW vs QQQ: Correlation
ServiceNow (NOW) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and QQQ?
Over the past 3 years, NOW and QQQ moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.47). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 398.3 %².
By 3-year correlation, QQQ places #40 of the 54 assets tracked against NOW. The last year tells two different stories: QQQ led by 48.4 percentage points, -22.1% for NOW against +26.3% for QQQ. This link changes with the market regime, having swung between 0.23 and 0.79 on a rolling one-year basis. One caveat on sizing: NOW is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NOW vs QQQ: side by side
| NOW (ServiceNow) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -22.1% | +26.3% |
| 5-year return | +7.9% | +95.4% |
| Volatility (ann.) | 43.2% | 19.6% |
| Beta vs S&P 500 | 1.38 | 1.28 |
| Max drawdown (3Y) | -64.5% | -22.8% |
| Market cap | $143.1B | – |
| P/E (trailing) | 78.7 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | NOW | QQQ |
|---|---|---|
| 2022 | -40.2% | -32.6% |
| 2023 | +82.0% | +54.9% |
| 2024 | +50.1% | +25.6% |
| 2025 | -27.7% | +20.8% |
| 2026 | -9.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and QQQ good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NOW and QQQ?
The NOW/QQQ correlation stands at 0.47 on a 3-year window (1 year: 0.28, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NOW?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/now-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/now-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOW correlations · QQQ correlations
