OGS vs QQQ: Correlation
How closely do ONE Gas, Inc. (OGS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGS and QQQ?
On 3 years of weekly data the OGS/QQQ correlation comes out at -0.02, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.19) than the 3-year average (-0.02). The 5-year figure is 0.08, and annualized covariance runs at -9.2 %².
Out of 14 assets tracked against OGS, QQQ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 18.8 percentage points (+7.5% for OGS against +26.3% for QQQ).
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.
OGS vs QQQ: side by side
| OGS (ONE Gas, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +7.5% | +26.3% |
| 5-year return | +32.3% | +95.4% |
| Volatility (ann.) | 20.2% | 19.6% |
| Beta vs S&P 500 | 0.17 | 1.28 |
| Max drawdown (3Y) | -23.0% | -22.8% |
| Market cap | $5.0B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.33% | 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 | OGS | QQQ |
|---|---|---|
| 2022 | +0.6% | -32.6% |
| 2023 | -12.8% | +54.9% |
| 2024 | +13.1% | +25.6% |
| 2025 | +15.6% | +20.8% |
| 2026 | +5.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGS and QQQ good diversifiers for each other?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OGS and QQQ?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with -0.19 over the last year and 0.08 over 5 years.
Is QQQ a good diversifier for OGS?
Yes: at -0.02, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.02 mean?
A reading of -0.02 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: OGS correlations · QQQ correlations
