PATH vs QQQ: Correlation
How closely do UiPath, Inc. (PATH) 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 PATH and QQQ?
Over the past 3 years, PATH and QQQ moved with a correlation of 0.34, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.34 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 403.7 %².
Within PATH's tracked universe of 14 assets, QQQ comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PATH ahead by 38.2 points (+64.5% versus +26.3%). Risk is not evenly split, since PATH carries 3.1 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.
PATH vs QQQ: side by side
| PATH (UiPath, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +64.5% | +26.3% |
| 5-year return | -71.6% | +95.4% |
| Volatility (ann.) | 60.8% | 19.6% |
| Beta vs S&P 500 | 1.40 | 1.28 |
| Max drawdown (3Y) | -65.1% | -22.8% |
| Market cap | $9.5B | – |
| P/E (trailing) | 27.8 | – |
| 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 | PATH | QQQ |
|---|---|---|
| 2022 | -70.5% | -32.6% |
| 2023 | +95.4% | +54.9% |
| 2024 | -48.8% | +25.6% |
| 2025 | +29.0% | +20.8% |
| 2026 | +11.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PATH and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PATH and QQQ?
The PATH/QQQ correlation stands at 0.34 on a 3-year window (1 year: 0.18, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PATH?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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
$ curl https://www.pairbook.io/api/v1/pairs/path-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/path-vs-qqq/)
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Related comparisons
Hubs: PATH correlations · QQQ correlations
