QQQ vs QUAD: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Quad Graphics, Inc (QUAD) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and QUAD?
On 3 years of weekly data the QQQ/QUAD correlation comes out at 0.23, weak. Lately the two have drifted apart, with the 1-year correlation at -0.01 versus 0.23 over 3 years. The 5-year figure is 0.22, and annualized covariance runs at 225.8 %².
Among the 4755 assets we track against QQQ, QUAD ranks #2437 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QUAD ahead by 39.0 points (+26.3% versus +65.3%). Risk is not evenly split, since QUAD carries 2.6 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.
QQQ vs QUAD: side by side
| QQQ (Invesco QQQ Trust) | QUAD (Quad Graphics, Inc) | |
|---|---|---|
| 1-year return | +26.3% | +65.3% |
| 5-year return | +95.4% | +175.4% |
| Volatility (ann.) | 19.6% | 50.1% |
| Beta vs S&P 500 | 1.28 | 0.96 |
| Max drawdown (3Y) | -22.8% | -45.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 15.3 |
| Dividend yield | 0.44% | 3.50% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | QUAD |
|---|---|---|
| 2022 | -32.6% | +2.0% |
| 2023 | +54.9% | +32.8% |
| 2024 | +25.6% | +33.6% |
| 2025 | +20.8% | -5.3% |
| 2026 | +17.7% | +66.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and QUAD good diversifiers for each other?
Reasonably. At 0.23, QQQ and QUAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and QUAD?
As of 2026-08-27, the correlation of weekly returns between QQQ and QUAD is 0.23 over 3 years, -0.01 over 1 year and 0.22 over 5 years.
Is QUAD a good diversifier for QQQ?
Reasonably. At 0.23, QQQ and QUAD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 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: QQQ correlations · QUAD correlations
