OWLT vs QQQ: Correlation
How closely do Owlet, Inc. (OWLT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OWLT and QQQ?
Over the past 3 years, OWLT and QQQ moved with a correlation of 0.34, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.34 over 3. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 498.6 %².
QQQ is close to the least connected end of OWLT's tracked universe, ranking #7 of 10. The last year tells two different stories: QQQ led by 56.8 percentage points, -30.5% for OWLT against +26.3% for QQQ. One caveat on sizing: OWLT is 3.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OWLT vs QQQ: side by side
| OWLT (Owlet, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -30.5% | +26.3% |
| 5-year return | -94.4% | +95.4% |
| Volatility (ann.) | 75.1% | 19.6% |
| Beta vs S&P 500 | 1.79 | 1.28 |
| Max drawdown (3Y) | -73.1% | -22.8% |
| Market cap | $0.1B | – |
| 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 | OWLT | QQQ |
|---|---|---|
| 2022 | -79.1% | -32.6% |
| 2023 | -32.5% | +54.9% |
| 2024 | -15.7% | +25.6% |
| 2025 | +263.8% | +20.8% |
| 2026 | -69.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OWLT and QQQ good diversifiers for each other?
Reasonably. At 0.34, OWLT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OWLT and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.42 over the last year and 0.31 over 5 years.
Is QQQ a good diversifier for OWLT?
Reasonably. At 0.34, OWLT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: OWLT correlations · QQQ correlations
