OTIS vs QQQ: Correlation
How closely do Otis Worldwide (OTIS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTIS and QQQ?
On 3 years of weekly data the OTIS/QQQ correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.35 over 3. The 5-year figure is 0.48, and annualized covariance runs at 131.0 %².
By 3-year correlation, QQQ places #20 of the 31 assets tracked against OTIS. The last year tells two different stories: QQQ led by 43.1 percentage points, -16.8% for OTIS against +26.3% for QQQ. Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.62.
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.
OTIS vs QQQ: side by side
| OTIS (Otis Worldwide) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -16.8% | +26.3% |
| 5-year return | -15.9% | +95.4% |
| Volatility (ann.) | 19.1% | 19.6% |
| Beta vs S&P 500 | 0.59 | 1.28 |
| Max drawdown (3Y) | -32.4% | -22.8% |
| Market cap | $27.2B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 2.35% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | OTIS | QQQ |
|---|---|---|
| 2022 | -8.8% | -32.6% |
| 2023 | +16.0% | +54.9% |
| 2024 | +5.2% | +25.6% |
| 2025 | -4.0% | +20.8% |
| 2026 | -16.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTIS and QQQ good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OTIS and QQQ?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.31 over the last year and 0.48 over 5 years.
Is QQQ a good diversifier for OTIS?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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: OTIS correlations · QQQ correlations
