QQQ vs SAP: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and SAP SE (SAP) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SAP?
Across a 3-year window, the weekly returns of QQQ and SAP correlate at 0.48, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.48). Stretching to 5 years gives 0.55, with an annualized covariance of 274.7 %².
By 3-year correlation, SAP places #334 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 44.5 percentage points (+26.3% for QQQ against -18.2% for SAP).
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 SAP: side by side
| QQQ (Invesco QQQ Trust) | SAP (SAP SE) | |
|---|---|---|
| 1-year return | +26.3% | -18.2% |
| 5-year return | +95.4% | +60.5% |
| Volatility (ann.) | 19.6% | 29.4% |
| Beta vs S&P 500 | 1.28 | 1.02 |
| Max drawdown (3Y) | -22.8% | -52.3% |
| Market cap | – | $255.3B |
| P/E (trailing) | – | 27.2 |
| Dividend yield | 0.44% | 1.18% |
| 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 | SAP |
|---|---|---|
| 2022 | -32.6% | -24.2% |
| 2023 | +54.9% | +52.3% |
| 2024 | +25.6% | +61.3% |
| 2025 | +20.8% | -0.4% |
| 2026 | +17.7% | -7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SAP good diversifiers for each other?
Reasonably. At 0.48, QQQ and SAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SAP?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.31 over the last year and 0.55 over 5 years.
Is SAP a good diversifier for QQQ?
Reasonably. At 0.48, QQQ and SAP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-sap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-sap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SAP correlations
