QCOM vs QQQM: Correlation
How closely do Qualcomm (QCOM) and Invesco Nasdaq 100 ETF (QQQM) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCOM and QQQM?
On 3 years of weekly data the QCOM/QQQM correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.68, and annualized covariance runs at 564.2 %².
By 3-year correlation, QQQM places #6 of the 41 assets tracked against QCOM. Their recent paths diverged sharply: over the last 12 months QQQM outperformed by 21.1 percentage points (+5.3% for QCOM against +26.4% for QQQM). Stability stands out here, with the rolling one-year correlation confined to 0.60 through 0.84. Note the risk asymmetry: QCOM runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
QCOM vs QQQM: side by side
| QCOM (Qualcomm) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +5.3% | +26.4% |
| 5-year return | +25.8% | +96.1% |
| Volatility (ann.) | 42.4% | 19.5% |
| Beta vs S&P 500 | 1.77 | 1.28 |
| Max drawdown (3Y) | -44.2% | -22.7% |
| Market cap | $176.0B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.19% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | QCOM | QQQM |
|---|---|---|
| 2022 | -38.6% | -32.5% |
| 2023 | +35.1% | +55.0% |
| 2024 | +8.3% | +25.7% |
| 2025 | +13.8% | +20.9% |
| 2026 | -2.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQM holds QCOM at a 0.76% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are QCOM and QQQM good diversifiers for each other?
Only partially. A correlation of 0.68 means QCOM and QQQM 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 QCOM and QQQM?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.68 over the last year and 0.68 over 5 years.
Is QQQM a good diversifier for QCOM?
Only partially. A correlation of 0.68 means QCOM and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qcom-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qcom-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QCOM correlations · QQQM correlations
