OBT vs QQQ: Correlation
Measured on weekly returns over the past three years, Orange County Bancorp, Inc. (OBT) 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 OBT and QQQ?
Over the past 3 years, OBT and QQQ moved with a correlation of 0.23, which is weak. The link has loosened recently: the 1-year correlation (0.04) runs below the 3-year figure (0.23). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is 170.7 %².
Among the 11 assets we track against OBT, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months OBT outperformed by 19.4 percentage points (+45.7% for OBT against +26.3% for QQQ). One caveat on sizing: OBT is 2.0 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.
OBT vs QQQ: side by side
| OBT (Orange County Bancorp, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +45.7% | +26.3% |
| 5-year return | +143.9% | +95.4% |
| Volatility (ann.) | 38.3% | 19.6% |
| Beta vs S&P 500 | 0.83 | 1.28 |
| Max drawdown (3Y) | -32.5% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 1.77% | 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 | OBT | QQQ |
|---|---|---|
| 2022 | +18.3% | -32.6% |
| 2023 | +32.1% | +54.9% |
| 2024 | -6.1% | +25.6% |
| 2025 | +5.0% | +20.8% |
| 2026 | +34.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBT and QQQ good diversifiers for each other?
Reasonably. At 0.23, OBT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OBT and QQQ?
As of 2026-08-27, the correlation of weekly returns between OBT and QQQ is 0.23 over 3 years, 0.04 over 1 year and 0.09 over 5 years.
Is QQQ a good diversifier for OBT?
Reasonably. At 0.23, OBT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/obt-vs-qqq.json
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Related comparisons
Hubs: OBT correlations · QQQ correlations
