POWW vs QQQ: Correlation
Measured on weekly returns over the past three years, Outdoor Holding Company (POWW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.16, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are POWW and QQQ?
Over the past 3 years, POWW and QQQ moved with a correlation of 0.16, which is weak. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 174.0 %².
Among the 11 assets we track against POWW, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with POWW ahead by 19.7 points (+46.0% versus +26.3%). Risk is not evenly split, since POWW carries 2.8 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.
POWW vs QQQ: side by side
| POWW (Outdoor Holding Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +46.0% | +26.3% |
| 5-year return | -70.6% | +95.4% |
| Volatility (ann.) | 54.9% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -67.5% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 109.5 | – |
| 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 | POWW | QQQ |
|---|---|---|
| 2022 | -68.3% | -32.6% |
| 2023 | +21.4% | +54.9% |
| 2024 | -47.6% | +25.6% |
| 2025 | +55.5% | +20.8% |
| 2026 | +28.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are POWW and QQQ good diversifiers for each other?
Yes. With a correlation of 0.16, POWW and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between POWW and QQQ?
As of 2026-08-27, the correlation of weekly returns between POWW and QQQ is 0.16 over 3 years, 0.26 over 1 year and 0.34 over 5 years.
Is QQQ a good diversifier for POWW?
Yes. With a correlation of 0.16, POWW and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
A reading of 0.16 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/poww-vs-qqq.json
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[](https://www.pairbook.io/pair/poww-vs-qqq/)
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Related comparisons
Hubs: POWW correlations · QQQ correlations
