NWFL vs QQQ: Correlation
Measured on weekly returns over the past three years, Norwood Financial Corp. (NWFL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWFL and QQQ?
On 3 years of weekly data the NWFL/QQQ correlation comes out at 0.18, weak. The past 12 months show a weaker link (-0.05) than the 3-year average (0.18). The 5-year figure is 0.12, and annualized covariance runs at 109.0 %².
Out of 13 assets tracked against NWFL, QQQ lands near the bottom at #10. On 12-month performance NWFL holds a 8.0-point edge, +34.3% against +26.3%. Risk is not evenly split, since NWFL carries 1.6 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.
NWFL vs QQQ: side by side
| NWFL (Norwood Financial Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.3% | +26.3% |
| 5-year return | +65.8% | +95.4% |
| Volatility (ann.) | 31.4% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -33.6% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 3.78% | 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 | NWFL | QQQ |
|---|---|---|
| 2022 | +34.1% | -32.6% |
| 2023 | +2.4% | +54.9% |
| 2024 | -13.6% | +25.6% |
| 2025 | +8.4% | +20.8% |
| 2026 | +25.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWFL and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, NWFL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NWFL and QQQ?
As of 2026-08-27, the correlation of weekly returns between NWFL and QQQ is 0.18 over 3 years, -0.05 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for NWFL?
Yes. With a correlation of 0.18, NWFL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
A reading of 0.18 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
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Related comparisons
Hubs: NWFL correlations · QQQ correlations
