QQQ vs SA: Correlation
How closely do Invesco QQQ Trust (QQQ) and Seabridge Gold, Inc. (SA) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SA?
On 3 years of weekly data the QQQ/SA correlation comes out at 0.33, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.50 versus 0.33 over 3 years. The 5-year figure is 0.32, and annualized covariance runs at 366.2 %².
Among the 4755 assets we track against QQQ, SA ranks #1223 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SA outperformed by 78.8 percentage points (+26.3% for QQQ against +105.1% for SA). Risk is not evenly split, since SA carries 2.9 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 SA: side by side
| QQQ (Invesco QQQ Trust) | SA (Seabridge Gold, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +105.1% |
| 5-year return | +95.4% | +93.2% |
| Volatility (ann.) | 19.6% | 56.7% |
| Beta vs S&P 500 | 1.28 | 1.46 |
| Max drawdown (3Y) | -22.8% | -52.5% |
| Market cap | – | $3.7B |
| P/E (trailing) | – | 179.3 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SA |
|---|---|---|
| 2022 | -32.6% | -23.7% |
| 2023 | +54.9% | -3.6% |
| 2024 | +25.6% | -5.9% |
| 2025 | +20.8% | +159.3% |
| 2026 | +17.7% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SA good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SA?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.50 over the last year and 0.32 over 5 years.
Is SA a good diversifier for QQQ?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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-sa.json
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[](https://www.pairbook.io/pair/qqq-vs-sa/)
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Related comparisons
Hubs: QQQ correlations · SA correlations
