QQQ vs S: Correlation
How closely do Invesco QQQ Trust (QQQ) and SentinelOne, Inc. (S) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and S?
On 3 years of weekly data the QQQ/S correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.41 over 3. The 5-year figure is 0.49, and annualized covariance runs at 392.0 %².
Within QQQ's tracked universe of 4755 assets, S comes in at #578 by 3-year correlation. Over the last 12 months S came out ahead by 6.1 percentage points (+26.3% against +32.4%). One caveat on sizing: S is 2.5 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.
QQQ vs S: side by side
| QQQ (Invesco QQQ Trust) | S (SentinelOne, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +32.4% |
| 5-year return | +95.4% | -65.2% |
| Volatility (ann.) | 19.6% | 48.4% |
| Beta vs S&P 500 | 1.28 | 1.43 |
| Max drawdown (3Y) | -22.8% | -60.2% |
| Market cap | – | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| 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 | S |
|---|---|---|
| 2022 | -32.6% | -71.1% |
| 2023 | +54.9% | +88.1% |
| 2024 | +25.6% | -19.1% |
| 2025 | +20.8% | -32.4% |
| 2026 | +17.7% | +51.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and S good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and S?
The QQQ/S correlation stands at 0.41 on a 3-year window (1 year: 0.33, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is S a good diversifier for QQQ?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-s.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-s/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · S correlations
