ODFL vs QQQ: Correlation
Measured on weekly returns over the past three years, Old Dominion (ODFL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODFL and QQQ?
Across a 3-year window, the weekly returns of ODFL and QQQ correlate at 0.31, moderate. The past 12 months show a weaker link (0.03) than the 3-year average (0.31). Stretching to 5 years gives 0.46, with an annualized covariance of 210.0 %².
Among the 36 assets we track against ODFL, QQQ ranks #26 by 3-year correlation. Their 12-month results are close: +30.9% for ODFL against +26.3% for QQQ. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.02 to 0.67. Risk is not evenly split, since ODFL carries 1.8 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.
ODFL vs QQQ: side by side
| ODFL (Old Dominion) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +30.9% | +26.3% |
| 5-year return | +39.6% | +95.4% |
| Volatility (ann.) | 34.7% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -45.2% | -22.8% |
| Market cap | $41.6B | – |
| P/E (trailing) | 38.3 | – |
| Dividend yield | 0.57% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | ODFL | QQQ |
|---|---|---|
| 2022 | -20.5% | -32.6% |
| 2023 | +43.5% | +54.9% |
| 2024 | -12.5% | +25.6% |
| 2025 | -10.5% | +20.8% |
| 2026 | +27.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ODFL represents 0.18% of QQQ's portfolio, so part of any move in QQQ is ODFL itself, and the correlation between them is partly mechanical.
Are ODFL and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ODFL and QQQ?
As of 2026-08-27, the correlation of weekly returns between ODFL and QQQ is 0.31 over 3 years, 0.03 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for ODFL?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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.
Use this data
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Related comparisons
Hubs: ODFL correlations · QQQ correlations
