NWN vs QQQ: Correlation
How closely do Northwest Natural Holding Company (NWN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWN and QQQ?
Across a 3-year window, the weekly returns of NWN and QQQ correlate at -0.02, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.21) runs below the 3-year figure (-0.02). Stretching to 5 years gives 0.10, with an annualized covariance of -7.5 %².
Out of 16 assets tracked against NWN, QQQ lands near the bottom at #13. Their 12-month results are close: +24.4% for NWN against +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.
NWN vs QQQ: side by side
| NWN (Northwest Natural Holding Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.4% | +26.3% |
| 5-year return | +20.2% | +95.4% |
| Volatility (ann.) | 20.8% | 19.6% |
| Beta vs S&P 500 | 0.17 | 1.28 |
| Max drawdown (3Y) | -13.5% | -22.8% |
| Market cap | $2.1B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 3.91% | 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 | NWN | QQQ |
|---|---|---|
| 2022 | +1.5% | -32.6% |
| 2023 | -14.4% | +54.9% |
| 2024 | +6.8% | +25.6% |
| 2025 | +23.7% | +20.8% |
| 2026 | +9.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWN and QQQ good diversifiers for each other?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NWN and QQQ?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with -0.21 over the last year and 0.10 over 5 years.
Is QQQ a good diversifier for NWN?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.02 mean?
A reading of -0.02 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/nwn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nwn-vs-qqq/)
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Related comparisons
Hubs: NWN correlations · QQQ correlations
