NTNX vs QQQ: Correlation
How closely do Nutanix, Inc. (NTNX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTNX and QQQ?
Over the past 3 years, NTNX and QQQ moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.39). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 350.2 %².
Within NTNX's tracked universe of 16 assets, QQQ comes in at #7 by 3-year correlation. The last year tells two different stories: QQQ led by 26.0 percentage points, +0.3% for NTNX against +26.3% for QQQ. One caveat on sizing: NTNX is 2.3 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.
NTNX vs QQQ: side by side
| NTNX (Nutanix, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.3% | +26.3% |
| 5-year return | +90.4% | +95.4% |
| Volatility (ann.) | 45.6% | 19.6% |
| Beta vs S&P 500 | 1.28 | 1.28 |
| Max drawdown (3Y) | -58.6% | -22.8% |
| Market cap | $18.9B | – |
| P/E (trailing) | 12.7 | – |
| 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 | NTNX | QQQ |
|---|---|---|
| 2022 | -18.2% | -32.6% |
| 2023 | +83.1% | +54.9% |
| 2024 | +28.3% | +25.6% |
| 2025 | -15.5% | +20.8% |
| 2026 | +35.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTNX and QQQ good diversifiers for each other?
Reasonably. At 0.39, NTNX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NTNX and QQQ?
As of 2026-08-27, the correlation of weekly returns between NTNX and QQQ is 0.39 over 3 years, 0.19 over 1 year and 0.39 over 5 years.
Is QQQ a good diversifier for NTNX?
Reasonably. At 0.39, NTNX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/ntnx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntnx-vs-qqq/)
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Related comparisons
Hubs: NTNX correlations · QQQ correlations
