OFS vs QQQ: Correlation
OFS Capital Corporation - Closed End Fund (OFS) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OFS and QQQ?
Across a 3-year window, the weekly returns of OFS and QQQ correlate at 0.30, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.30 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 200.4 %².
Within OFS's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. The last year tells two different stories: QQQ led by 73.7 percentage points, -47.4% for OFS against +26.3% for QQQ. One caveat on sizing: OFS is 1.7 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.
OFS vs QQQ: side by side
| OFS (OFS Capital Corporation - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -47.4% | +26.3% |
| 5-year return | -31.5% | +95.4% |
| Volatility (ann.) | 34.0% | 19.6% |
| Beta vs S&P 500 | 0.69 | 1.28 |
| Max drawdown (3Y) | -67.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 23.22% | 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 | OFS | QQQ |
|---|---|---|
| 2022 | +3.3% | -32.6% |
| 2023 | +29.9% | +54.9% |
| 2024 | -20.2% | +25.6% |
| 2025 | -31.6% | +20.8% |
| 2026 | -14.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFS and QQQ good diversifiers for each other?
Reasonably. At 0.30, OFS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OFS and QQQ?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.45 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for OFS?
Reasonably. At 0.30, OFS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 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/ofs-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ofs-vs-qqq/)
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Related comparisons
Hubs: OFS correlations · QQQ correlations
