QQQ vs SATL: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Satellogic Inc. (SATL) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SATL?
Across a 3-year window, the weekly returns of QQQ and SATL correlate at 0.20, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. Stretching to 5 years gives 0.11, with an annualized covariance of 524.2 %².
Within QQQ's tracked universe of 4755 assets, SATL comes in at #2854 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SATL ahead by 18.8 points (+26.3% versus +45.1%). Note the risk asymmetry: SATL runs 6.9 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 SATL: side by side
| QQQ (Invesco QQQ Trust) | SATL (Satellogic Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +45.1% |
| 5-year return | +95.4% | -45.8% |
| Volatility (ann.) | 19.6% | 134.8% |
| Beta vs S&P 500 | 1.28 | 1.81 |
| Max drawdown (3Y) | -22.8% | -73.2% |
| Market cap | – | $0.8B |
| 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 |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SATL |
|---|---|---|
| 2022 | -32.6% | -68.6% |
| 2023 | +54.9% | -42.6% |
| 2024 | +25.6% | +62.9% |
| 2025 | +20.8% | -34.4% |
| 2026 | +17.7% | +184.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SATL good diversifiers for each other?
Reasonably. At 0.20, QQQ and SATL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SATL?
The QQQ/SATL correlation stands at 0.20 on a 3-year window (1 year: 0.19, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is SATL a good diversifier for QQQ?
Reasonably. At 0.20, QQQ and SATL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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.
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Related comparisons
Hubs: QQQ correlations · SATL correlations
