ONL vs QQQ: Correlation
Orion Properties Inc. (ONL) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONL and QQQ?
Over the past 3 years, ONL and QQQ moved with a correlation of 0.23, which is weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 234.6 %².
Among the 14 assets we track against ONL, QQQ ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 22.9 percentage points (+3.4% for ONL against +26.3% for QQQ). Risk is not evenly split, since ONL carries 2.6 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.
ONL vs QQQ: side by side
| ONL (Orion Properties Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.4% | +26.3% |
| 5-year return | -79.8% | +95.4% |
| Volatility (ann.) | 51.4% | 19.6% |
| Beta vs S&P 500 | 1.30 | 1.28 |
| Max drawdown (3Y) | -71.5% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.85% | 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 | ONL | QQQ |
|---|---|---|
| 2022 | -52.4% | -32.6% |
| 2023 | -28.4% | +54.9% |
| 2024 | -27.4% | +25.6% |
| 2025 | -36.9% | +20.8% |
| 2026 | +30.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONL and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ONL and QQQ?
The ONL/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.26, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ONL?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 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: ONL correlations · QQQ correlations
