NVDA vs QQQM: Correlation
How closely do Nvidia (NVDA) and Invesco Nasdaq 100 ETF (QQQM) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVDA and QQQM?
On 3 years of weekly data the NVDA/QQQM correlation comes out at 0.76, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 655.9 %².
Within NVDA's tracked universe of 37 assets, QQQM comes in at #6 by 3-year correlation. Neither side won the trailing year by much: +25.7% against +26.4%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.62 and 0.82. Note the risk asymmetry: NVDA runs 2.3 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.
NVDA vs QQQM: side by side
| NVDA (Nvidia) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +25.7% | +26.4% |
| 5-year return | +908.3% | +96.1% |
| Volatility (ann.) | 44.5% | 19.5% |
| Beta vs S&P 500 | 2.18 | 1.28 |
| Max drawdown (3Y) | -36.9% | -22.7% |
| Market cap | $5,505.0B | – |
| P/E (trailing) | 32.2 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | NVDA | QQQM |
|---|---|---|
| 2022 | -50.3% | -32.5% |
| 2023 | +239.0% | +55.0% |
| 2024 | +171.2% | +25.7% |
| 2025 | +38.9% | +20.9% |
| 2026 | +22.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQM holds NVDA at a 8.15% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are NVDA and QQQM good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NVDA and QQQM?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.66 over the last year and 0.79 over 5 years.
Is QQQM a good diversifier for NVDA?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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/nvda-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nvda-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVDA correlations · QQQM correlations
