NXT vs QQQ: Correlation
Nextpower Inc. (NXT) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXT and QQQ?
Over the past 3 years, NXT and QQQ moved with a correlation of 0.33, which is moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 403.5 %².
Out of 11 assets tracked against NXT, QQQ lands near the bottom at #7. The trailing year gives NXT the advantage: +32.3% versus +26.3%, a 6.0-point spread. One caveat on sizing: NXT is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NXT vs QQQ: side by side
| NXT (Nextpower Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.3% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 62.6% | 19.6% |
| Beta vs S&P 500 | 1.42 | 1.28 |
| Max drawdown (3Y) | -48.6% | -22.8% |
| Market cap | $13.8B | – |
| P/E (trailing) | 22.5 | – |
| 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 | NXT | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | -22.0% | +25.6% |
| 2025 | +138.5% | +20.8% |
| 2026 | +2.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXT and QQQ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NXT and QQQ?
The NXT/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NXT?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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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Related comparisons
Hubs: NXT correlations · QQQ correlations
