NTAP vs QQQ: Correlation
Measured on weekly returns over the past three years, NetApp (NTAP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTAP and QQQ?
Across a 3-year window, the weekly returns of NTAP and QQQ correlate at 0.55, moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.55). Stretching to 5 years gives 0.54, with an annualized covariance of 404.3 %².
By 3-year correlation, QQQ places #6 of the 32 assets tracked against NTAP. Correlation aside, the last 12 months split them widely, with NTAP ahead by 46.7 points (+73.0% versus +26.3%). The rolling one-year correlation moved between 0.38 and 0.75 over the past three years, a moderate range. Risk is not evenly split, since NTAP carries 1.9 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.
NTAP vs QQQ: side by side
| NTAP (NetApp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +73.0% | +26.3% |
| 5-year return | +141.7% | +95.4% |
| Volatility (ann.) | 37.6% | 19.6% |
| Beta vs S&P 500 | 1.38 | 1.28 |
| Max drawdown (3Y) | -42.6% | -22.8% |
| Market cap | $37.4B | – |
| P/E (trailing) | 30.5 | – |
| Dividend yield | 1.07% | 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 | NTAP | QQQ |
|---|---|---|
| 2022 | -32.9% | -32.6% |
| 2023 | +51.1% | +54.9% |
| 2024 | +34.2% | +25.6% |
| 2025 | -5.9% | +20.8% |
| 2026 | +80.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTAP and QQQ good diversifiers for each other?
Only partially. A correlation of 0.55 means NTAP 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 NTAP and QQQ?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.41 over the last year and 0.54 over 5 years.
Is QQQ a good diversifier for NTAP?
Only partially. A correlation of 0.55 means NTAP 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 0.55 mean?
On the −1 to +1 scale, 0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ntap-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntap-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTAP correlations · QQQ correlations
