QQQ vs SBAC: Correlation
How closely do Invesco QQQ Trust (QQQ) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SBAC?
On 3 years of weekly data the QQQ/SBAC correlation comes out at 0.10, weak. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus 0.10 over 3 years. The 5-year figure is 0.29, and annualized covariance runs at 57.7 %².
Among the 4755 assets we track against QQQ, SBAC ranks #3860 by 3-year correlation. The last year tells two different stories: QQQ led by 34.2 percentage points, +26.3% for QQQ against -7.9% for SBAC. This link changes with the market regime, having swung between -0.17 and 0.57 on a rolling one-year basis. Risk is not evenly split, since SBAC carries 1.5 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 SBAC: side by side
| QQQ (Invesco QQQ Trust) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +26.3% | -7.9% |
| 5-year return | +95.4% | -43.3% |
| Volatility (ann.) | 19.6% | 30.1% |
| Beta vs S&P 500 | 1.28 | 0.42 |
| Max drawdown (3Y) | -22.8% | -32.2% |
| Market cap | – | $19.8B |
| P/E (trailing) | – | 20.0 |
| Dividend yield | 0.44% | 2.54% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Real Estate |
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 | SBAC |
|---|---|---|
| 2022 | -32.6% | -27.3% |
| 2023 | +54.9% | -8.2% |
| 2024 | +25.6% | -18.2% |
| 2025 | +20.8% | -3.1% |
| 2026 | +17.7% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SBAC good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SBAC?
As of 2026-08-27, the correlation of weekly returns between QQQ and SBAC is 0.10 over 3 years, 0.21 over 1 year and 0.29 over 5 years.
Is SBAC a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 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 · SBAC correlations
