NWSA vs QQQ: Correlation
News Corp (Class A) (NWSA) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and QQQ?
Across a 3-year window, the weekly returns of NWSA and QQQ correlate at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.41 over 3 years. Stretching to 5 years gives 0.49, with an annualized covariance of 189.4 %².
Within NWSA's tracked universe of 42 assets, QQQ comes in at #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.3 points (+6.0% versus +26.3%). The rolling one-year correlation moved between 0.22 and 0.66 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.
NWSA vs QQQ: side by side
| NWSA (News Corp (Class A)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.0% | +26.3% |
| 5-year return | +45.9% | +95.4% |
| Volatility (ann.) | 23.4% | 19.6% |
| Beta vs S&P 500 | 0.76 | 1.28 |
| Max drawdown (3Y) | -27.8% | -22.8% |
| Market cap | $16.8B | – |
| P/E (trailing) | 30.0 | – |
| Dividend yield | 0.65% | 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 | NWSA | QQQ |
|---|---|---|
| 2022 | -17.6% | -32.6% |
| 2023 | +36.4% | +54.9% |
| 2024 | +13.0% | +25.6% |
| 2025 | -4.5% | +20.8% |
| 2026 | +19.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWSA 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 NWSA and QQQ?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.21 over the last year and 0.49 over 5 years.
Is QQQ a good diversifier for NWSA?
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?
On the −1 to +1 scale, 0.41 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/nwsa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nwsa-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NWSA correlations · QQQ correlations
