PWR vs QQQ: Correlation
How closely do Quanta Services (PWR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PWR and QQQ?
Over the past 3 years, PWR and QQQ moved with a correlation of 0.52, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.52 over 3 years. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 341.3 %².
Within PWR's tracked universe of 33 assets, QQQ comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PWR ahead by 36.8 points (+63.1% versus +26.3%). The rolling one-year correlation moved between 0.24 and 0.69 over the past three years, a moderate range. One caveat on sizing: PWR is 1.7 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.
PWR vs QQQ: side by side
| PWR (Quanta Services) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +63.1% | +26.3% |
| 5-year return | +506.1% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 1.29 | 1.28 |
| Max drawdown (3Y) | -33.9% | -22.8% |
| Market cap | $93.5B | – |
| P/E (trailing) | 70.4 | – |
| Dividend yield | 0.07% | 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 | PWR | QQQ |
|---|---|---|
| 2022 | +24.6% | -32.6% |
| 2023 | +51.7% | +54.9% |
| 2024 | +46.6% | +25.6% |
| 2025 | +33.7% | +20.8% |
| 2026 | +47.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PWR and QQQ good diversifiers for each other?
Only partially. A correlation of 0.52 means PWR and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PWR and QQQ?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.28 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for PWR?
Only partially. A correlation of 0.52 means PWR and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/pwr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pwr-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PWR correlations · QQQ correlations
