NWPX vs QQQ: Correlation
Measured on weekly returns over the past three years, NWPX Infrastructure, Inc. (NWPX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWPX and QQQ?
Across a 3-year window, the weekly returns of NWPX and QQQ correlate at 0.32, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.32). Stretching to 5 years gives 0.30, with an annualized covariance of 236.9 %².
Among the 12 assets we track against NWPX, QQQ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with NWPX ahead by 87.8 points (+114.1% versus +26.3%). Note the risk asymmetry: NWPX runs 1.9 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.
NWPX vs QQQ: side by side
| NWPX (NWPX Infrastructure, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +114.1% | +26.3% |
| 5-year return | +340.7% | +95.4% |
| Volatility (ann.) | 37.8% | 19.6% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -35.4% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 23.1 | – |
| 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 | NWPX | QQQ |
|---|---|---|
| 2022 | +6.0% | -32.6% |
| 2023 | -10.2% | +54.9% |
| 2024 | +59.5% | +25.6% |
| 2025 | +29.5% | +20.8% |
| 2026 | +82.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWPX and QQQ good diversifiers for each other?
Reasonably. At 0.32, NWPX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWPX and QQQ?
As of 2026-08-27, the correlation of weekly returns between NWPX and QQQ is 0.32 over 3 years, 0.17 over 1 year and 0.30 over 5 years.
Is QQQ a good diversifier for NWPX?
Reasonably. At 0.32, NWPX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nwpx-vs-qqq/)
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Related comparisons
Hubs: NWPX correlations · QQQ correlations
