NWBI vs QQQ: Correlation
How closely do Northwest Bancshares, Inc. (NWBI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWBI and QQQ?
Across a 3-year window, the weekly returns of NWBI and QQQ correlate at 0.21, weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.21). Stretching to 5 years gives 0.25, with an annualized covariance of 103.5 %².
Out of 37 assets tracked against NWBI, QQQ lands near the bottom at #34. Twelve-month performance is nearly a tie, at +27.7% for NWBI and +26.3% for QQQ.
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.
NWBI vs QQQ: side by side
| NWBI (Northwest Bancshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +27.7% | +26.3% |
| 5-year return | +62.0% | +95.4% |
| Volatility (ann.) | 24.9% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -26.6% | -22.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 5.22% | 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 | NWBI | QQQ |
|---|---|---|
| 2022 | +4.6% | -32.6% |
| 2023 | -4.4% | +54.9% |
| 2024 | +12.7% | +25.6% |
| 2025 | -2.9% | +20.8% |
| 2026 | +33.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWBI and QQQ good diversifiers for each other?
Reasonably. At 0.21, NWBI and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWBI and QQQ?
As of 2026-08-27, the correlation of weekly returns between NWBI and QQQ is 0.21 over 3 years, 0.03 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for NWBI?
Reasonably. At 0.21, NWBI and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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/nwbi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: NWBI correlations · QQQ correlations
