OXLC vs QQQ: Correlation
How closely do Oxford Lane Capital Corp. - Closed End Fund (OXLC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OXLC and QQQ?
Over the past 3 years, OXLC and QQQ moved with a correlation of 0.27, which is weak. Little has changed lately, as the 1-year reading of 0.19 lands near the 3-year figure. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 154.1 %².
Among the 12 assets we track against OXLC, QQQ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 53.1 points (-26.8% versus +26.3%).
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.
OXLC vs QQQ: side by side
| OXLC (Oxford Lane Capital Corp. - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -26.8% | +26.3% |
| 5-year return | -22.9% | +95.4% |
| Volatility (ann.) | 28.7% | 19.6% |
| Beta vs S&P 500 | 0.62 | 1.28 |
| Max drawdown (3Y) | -57.2% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 53.57% | 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 | OXLC | QQQ |
|---|---|---|
| 2022 | -24.1% | -32.6% |
| 2023 | +16.5% | +54.9% |
| 2024 | +24.6% | +25.6% |
| 2025 | -24.4% | +20.8% |
| 2026 | -17.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OXLC and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OXLC and QQQ?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.19 over the last year and 0.33 over 5 years.
Is QQQ a good diversifier for OXLC?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 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: OXLC correlations · QQQ correlations
