NXP vs QQQ: Correlation
Nuveen Select Tax Free Income Portfolio (NXP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXP and QQQ?
Over the past 3 years, NXP and QQQ moved with a correlation of 0.12, which is weak. Little has changed lately, as the 1-year reading of 0.14 lands near the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 21.1 %².
Among the 11 assets we track against NXP, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.0 points (+6.3% versus +26.3%). Note the risk asymmetry: QQQ runs 2.2 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.
NXP vs QQQ: side by side
| NXP (Nuveen Select Tax Free Income Portfolio) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.3% | +26.3% |
| 5-year return | +0.3% | +95.4% |
| Volatility (ann.) | 9.1% | 19.6% |
| Beta vs S&P 500 | 0.11 | 1.28 |
| Max drawdown (3Y) | -9.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 4.45% | 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 | NXP | QQQ |
|---|---|---|
| 2022 | -9.5% | -32.6% |
| 2023 | +10.7% | +54.9% |
| 2024 | +6.9% | +25.6% |
| 2025 | -2.7% | +20.8% |
| 2026 | +3.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXP and QQQ good diversifiers for each other?
Yes. With a correlation of 0.12, NXP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXP and QQQ?
The NXP/QQQ correlation stands at 0.12 on a 3-year window (1 year: 0.14, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NXP?
Yes. With a correlation of 0.12, NXP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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/nxp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nxp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NXP correlations · QQQ correlations
