ONEW vs QQQ: Correlation
Measured on weekly returns over the past three years, OneWater Marine Inc. (ONEW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONEW and QQQ?
On 3 years of weekly data the ONEW/QQQ correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 418.7 %².
Among the 13 assets we track against ONEW, QQQ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 59.5 percentage points (-33.2% for ONEW against +26.3% for QQQ). Risk is not evenly split, since ONEW carries 3.0 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.
ONEW vs QQQ: side by side
| ONEW (OneWater Marine Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -33.2% | +26.3% |
| 5-year return | -71.6% | +95.4% |
| Volatility (ann.) | 59.0% | 19.6% |
| Beta vs S&P 500 | 1.72 | 1.28 |
| Max drawdown (3Y) | -76.1% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | ONEW | QQQ |
|---|---|---|
| 2022 | -53.1% | -32.6% |
| 2023 | +18.1% | +54.9% |
| 2024 | -48.6% | +25.6% |
| 2025 | -37.7% | +20.8% |
| 2026 | +7.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONEW and QQQ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ONEW and QQQ?
The ONEW/QQQ correlation stands at 0.36 on a 3-year window (1 year: 0.32, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ONEW?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 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/onew-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/onew-vs-qqq/)
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Related comparisons
Hubs: ONEW correlations · QQQ correlations
