NTRS vs QQQ: Correlation
Measured on weekly returns over the past three years, Northern Trust (NTRS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRS and QQQ?
Across a 3-year window, the weekly returns of NTRS and QQQ correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.37 versus 0.53 over 3 years. Stretching to 5 years gives 0.53, with an annualized covariance of 243.0 %².
By 3-year correlation, QQQ places #22 of the 33 assets tracked against NTRS. The last year tells two different stories: NTRS led by 18.5 percentage points, +44.8% for NTRS against +26.3% for QQQ. The rolling one-year correlation moved between 0.31 and 0.69 over the past three years, a moderate range.
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.
NTRS vs QQQ: side by side
| NTRS (Northern Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +44.8% | +26.3% |
| 5-year return | +83.2% | +95.4% |
| Volatility (ann.) | 23.7% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -25.2% | -22.8% |
| Market cap | $34.1B | – |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 1.71% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | NTRS | QQQ |
|---|---|---|
| 2022 | -23.8% | -32.6% |
| 2023 | -1.0% | +54.9% |
| 2024 | +25.6% | +25.6% |
| 2025 | +36.9% | +20.8% |
| 2026 | +37.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRS and QQQ good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NTRS and QQQ?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.37 over the last year and 0.53 over 5 years.
Is QQQ a good diversifier for NTRS?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/ntrs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntrs-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTRS correlations · QQQ correlations
