NWS vs QQQ: Correlation
How closely do News Corp (Class B) (NWS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWS and QQQ?
Over the past 3 years, NWS and QQQ moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.41). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 196.7 %².
By 3-year correlation, QQQ places #21 of the 37 assets tracked against NWS. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 22.0 percentage points (+4.3% for NWS against +26.3% for QQQ). The rolling one-year correlation moved between 0.23 and 0.63 over the past three years, a moderate range.
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.
NWS vs QQQ: side by side
| NWS (News Corp (Class B)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.3% | +26.3% |
| 5-year return | +67.8% | +95.4% |
| Volatility (ann.) | 24.5% | 19.6% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -26.8% | -22.8% |
| Market cap | $19.0B | – |
| P/E (trailing) | 34.3 | – |
| Dividend yield | 0.57% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Communication Services | 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 | NWS | QQQ |
|---|---|---|
| 2022 | -17.2% | -32.6% |
| 2023 | +41.0% | +54.9% |
| 2024 | +19.2% | +25.6% |
| 2025 | -2.0% | +20.8% |
| 2026 | +19.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWS and QQQ good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NWS and QQQ?
As of 2026-08-27, the correlation of weekly returns between NWS and QQQ is 0.41 over 3 years, 0.21 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for NWS?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: NWS correlations · QQQ correlations
