NYAX vs QQQ: Correlation
Nayax Ltd. (NYAX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NYAX and QQQ?
Over the past 3 years, NYAX and QQQ moved with a correlation of 0.14, which is weak. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 136.0 %².
Among the 12 assets we track against NYAX, QQQ ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 16.9 percentage points (+9.4% for NYAX against +26.3% for QQQ). Risk is not evenly split, since NYAX carries 2.5 times the volatility of the other side.
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.
NYAX vs QQQ: side by side
| NYAX (Nayax Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.4% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 48.8% | 19.6% |
| Beta vs S&P 500 | 0.48 | 1.28 |
| Max drawdown (3Y) | -39.1% | -22.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | 261.0 | – |
| 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 | NYAX | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | -3.3% | +54.9% |
| 2024 | +53.1% | +25.6% |
| 2025 | +73.5% | +20.8% |
| 2026 | +3.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NYAX and QQQ good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NYAX and QQQ?
As of 2026-08-27, the correlation of weekly returns between NYAX and QQQ is 0.14 over 3 years, 0.22 over 1 year and 0.16 over 5 years.
Is QQQ a good diversifier for NYAX?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 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: NYAX correlations · QQQ correlations
