OTEX vs QQQ: Correlation
Measured on weekly returns over the past three years, Open Text Corporation (OTEX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTEX and QQQ?
Over the past 3 years, OTEX and QQQ moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.42 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 268.6 %².
Out of 15 assets tracked against OTEX, QQQ lands near the bottom at #12. The last year tells two different stories: QQQ led by 47.0 percentage points, -20.7% for OTEX against +26.3% for QQQ. Note the risk asymmetry: OTEX runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OTEX vs QQQ: side by side
| OTEX (Open Text Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -20.7% | +26.3% |
| 5-year return | -46.4% | +95.4% |
| Volatility (ann.) | 32.4% | 19.6% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -50.4% | -22.8% |
| Market cap | $6.1B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 4.52% | 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 | OTEX | QQQ |
|---|---|---|
| 2022 | -35.9% | -32.6% |
| 2023 | +45.4% | +54.9% |
| 2024 | -30.4% | +25.6% |
| 2025 | +19.3% | +20.8% |
| 2026 | -21.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTEX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OTEX and QQQ?
As of 2026-08-27, the correlation of weekly returns between OTEX and QQQ is 0.42 over 3 years, 0.28 over 1 year and 0.53 over 5 years.
Is QQQ a good diversifier for OTEX?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/otex-vs-qqq/)
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Related comparisons
Hubs: OTEX correlations · QQQ correlations
