NPCT vs QQQ: Correlation
Nuveen Core Plus Impact Fund (NPCT) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and QQQ?
Over the past 3 years, NPCT and QQQ moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.39). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 89.2 %².
Among the 17 assets we track against NPCT, QQQ sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 26.6 percentage points (-0.3% for NPCT against +26.3% for QQQ). Note the risk asymmetry: QQQ runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NPCT vs QQQ: side by side
| NPCT (Nuveen Core Plus Impact Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.3% | +26.3% |
| 5-year return | -14.4% | +95.4% |
| Volatility (ann.) | 11.7% | 19.6% |
| Beta vs S&P 500 | 0.38 | 1.28 |
| Max drawdown (3Y) | -10.8% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.7 | – |
| 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 | NPCT | QQQ |
|---|---|---|
| 2022 | -37.5% | -32.6% |
| 2023 | +7.8% | +54.9% |
| 2024 | +17.3% | +25.6% |
| 2025 | +9.9% | +20.8% |
| 2026 | +2.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and QQQ good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NPCT and QQQ?
The NPCT/QQQ correlation stands at 0.39 on a 3-year window (1 year: 0.54, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NPCT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/npct-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/npct-vs-qqq/)
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Related comparisons
Hubs: NPCT correlations · QQQ correlations
