QQQ vs SAIA: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Saia, Inc. (SAIA) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SAIA?
Across a 3-year window, the weekly returns of QQQ and SAIA correlate at 0.30, moderate. The relationship has been stable: the 1-year correlation (0.22) sits close to the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 291.5 %².
Among the 4755 assets we track against QQQ, SAIA ranks #1529 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +16.6%, a 9.7-point spread. Note the risk asymmetry: SAIA runs 2.6 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 SAIA: side by side
| QQQ (Invesco QQQ Trust) | SAIA (Saia, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +16.6% |
| 5-year return | +95.4% | +44.1% |
| Volatility (ann.) | 19.6% | 50.1% |
| Beta vs S&P 500 | 1.28 | 1.25 |
| Max drawdown (3Y) | -22.8% | -60.9% |
| Market cap | – | $9.4B |
| P/E (trailing) | – | 33.8 |
| 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 | SAIA |
|---|---|---|
| 2022 | -32.6% | -37.8% |
| 2023 | +54.9% | +109.0% |
| 2024 | +25.6% | +4.0% |
| 2025 | +20.8% | -28.4% |
| 2026 | +17.7% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SAIA good diversifiers for each other?
Reasonably. At 0.30, QQQ and SAIA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SAIA?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.22 over the last year and 0.43 over 5 years.
Is SAIA a good diversifier for QQQ?
Reasonably. At 0.30, QQQ and SAIA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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.
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Related comparisons
Hubs: QQQ correlations · SAIA correlations
