QQQ vs SAFE: Correlation
Invesco QQQ Trust (QQQ) and Safehold Inc. New (SAFE) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SAFE?
Across a 3-year window, the weekly returns of QQQ and SAFE correlate at 0.12, weak. Recent behaviour matches the longer record: 0.15 over 1 year against 0.12 over 3. Stretching to 5 years gives 0.29, with an annualized covariance of 86.6 %².
By 3-year correlation, SAFE places #3688 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 26.4 percentage points, +26.3% for QQQ against -0.1% for SAFE. Note the risk asymmetry: SAFE runs 1.9 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.
QQQ vs SAFE: side by side
| QQQ (Invesco QQQ Trust) | SAFE (Safehold Inc. New) | |
|---|---|---|
| 1-year return | +26.3% | -0.1% |
| 5-year return | +95.4% | -85.5% |
| Volatility (ann.) | 19.6% | 36.8% |
| Beta vs S&P 500 | 1.28 | 0.66 |
| Max drawdown (3Y) | -22.8% | -51.9% |
| Market cap | – | $1.1B |
| P/E (trailing) | – | 9.5 |
| Dividend yield | 0.44% | 4.61% |
| 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 | SAFE |
|---|---|---|
| 2022 | -32.6% | -61.0% |
| 2023 | +54.9% | -48.4% |
| 2024 | +25.6% | -18.2% |
| 2025 | +20.8% | -22.5% |
| 2026 | +17.7% | +14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SAFE good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SAFE?
Using weekly returns as of 2026-08-27: 0.12 over 3 years, with 0.15 over the last year and 0.29 over 5 years.
Is SAFE a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 mean?
A reading of 0.12 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/qqq-vs-safe.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-safe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SAFE correlations
