NU vs QQQ: Correlation
Measured on weekly returns over the past three years, Nu Holdings Ltd. Class A (NU) and Invesco QQQ Trust (QQQ) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NU and QQQ?
Over the past 3 years, NU and QQQ moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 333.7 %².
QQQ is close to the least connected end of NU's tracked universe, ranking #7 of 10. The last year tells two different stories: QQQ led by 24.7 percentage points, +1.6% for NU against +26.3% for QQQ. Risk is not evenly split, since NU carries 2.0 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.
NU vs QQQ: side by side
| NU (Nu Holdings Ltd. Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +1.6% | +26.3% |
| 5-year return | +44.0% | +95.4% |
| Volatility (ann.) | 39.4% | 19.6% |
| Beta vs S&P 500 | 1.26 | 1.28 |
| Max drawdown (3Y) | -39.6% | -22.8% |
| Market cap | $71.9B | – |
| P/E (trailing) | 20.7 | – |
| 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 | NU | QQQ |
|---|---|---|
| 2022 | -56.6% | -32.6% |
| 2023 | +104.7% | +54.9% |
| 2024 | +24.4% | +25.6% |
| 2025 | +61.6% | +20.8% |
| 2026 | -11.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NU and QQQ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NU and QQQ?
As of 2026-08-27, the correlation of weekly returns between NU and QQQ is 0.43 over 3 years, 0.34 over 1 year and 0.44 over 5 years.
Is QQQ a good diversifier for NU?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/nu-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nu-vs-qqq/)
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Related comparisons
Hubs: NU correlations · QQQ correlations
