OLP vs QQQ: Correlation
Measured on weekly returns over the past three years, One Liberty Properties, Inc. (OLP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and QQQ?
Over the past 3 years, OLP and QQQ moved with a correlation of 0.17, which is weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.17). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 71.4 %².
Out of 28 assets tracked against OLP, QQQ lands near the bottom at #24. On 12-month performance QQQ holds a 13.3-point edge, +13.0% against +26.3%.
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.
OLP vs QQQ: side by side
| OLP (One Liberty Properties, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +13.0% | +26.3% |
| 5-year return | +11.9% | +95.4% |
| Volatility (ann.) | 21.5% | 19.6% |
| Beta vs S&P 500 | 0.49 | 1.28 |
| Max drawdown (3Y) | -28.8% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | 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 | OLP | QQQ |
|---|---|---|
| 2022 | -32.3% | -32.6% |
| 2023 | +7.6% | +54.9% |
| 2024 | +33.5% | +25.6% |
| 2025 | -19.6% | +20.8% |
| 2026 | +23.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and QQQ good diversifiers for each other?
Yes. With a correlation of 0.17, OLP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OLP and QQQ?
The OLP/QQQ correlation stands at 0.17 on a 3-year window (1 year: 0.03, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for OLP?
Yes. With a correlation of 0.17, OLP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/olp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/olp-vs-qqq/)
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Related comparisons
Hubs: OLP correlations · QQQ correlations
