NXG vs QQQ: Correlation
Measured on weekly returns over the past three years, NXG NextGen Infrastructure Income Fund (NXG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXG and QQQ?
Across a 3-year window, the weekly returns of NXG and QQQ correlate at 0.23, weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 128.9 %².
Among the 10 assets we track against NXG, QQQ sits near the bottom by co-movement, at rank #7. Over the last 12 months NXG came out ahead by 9.2 percentage points (+35.5% against +26.3%).
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.
NXG vs QQQ: side by side
| NXG (NXG NextGen Infrastructure Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.5% | +26.3% |
| 5-year return | +116.8% | +95.4% |
| Volatility (ann.) | 28.6% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -26.2% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 2.4 | – |
| 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 | NXG | QQQ |
|---|---|---|
| 2022 | -7.6% | -32.6% |
| 2023 | +4.3% | +54.9% |
| 2024 | +50.6% | +25.6% |
| 2025 | +25.8% | +20.8% |
| 2026 | +20.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXG and QQQ good diversifiers for each other?
Reasonably. At 0.23, NXG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NXG and QQQ?
As of 2026-08-27, the correlation of weekly returns between NXG and QQQ is 0.23 over 3 years, 0.24 over 1 year and 0.37 over 5 years.
Is QQQ a good diversifier for NXG?
Reasonably. At 0.23, NXG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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.
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Related comparisons
Hubs: NXG correlations · QQQ correlations
