QQQ vs SBH: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Sally Beauty Holdings, Inc. Commo (SBH) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SBH?
Over the past 3 years, QQQ and SBH moved with a correlation of 0.32, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.48 versus 0.32 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 280.5 %².
Among the 4755 assets we track against QQQ, SBH ranks #1335 by 3-year correlation. Over the last 12 months QQQ came out ahead by 9.8 percentage points (+26.3% against +16.5%). Note the risk asymmetry: SBH runs 2.3 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 SBH: side by side
| QQQ (Invesco QQQ Trust) | SBH (Sally Beauty Holdings, Inc. Commo) | |
|---|---|---|
| 1-year return | +26.3% | +16.5% |
| 5-year return | +95.4% | -12.3% |
| Volatility (ann.) | 19.6% | 45.3% |
| Beta vs S&P 500 | 1.28 | 1.15 |
| Max drawdown (3Y) | -22.8% | -45.2% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | 8.6 |
| 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 | SBH |
|---|---|---|
| 2022 | -32.6% | -32.2% |
| 2023 | +54.9% | +6.1% |
| 2024 | +25.6% | -21.3% |
| 2025 | +20.8% | +36.5% |
| 2026 | +17.7% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SBH good diversifiers for each other?
Reasonably. At 0.32, QQQ and SBH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SBH?
The QQQ/SBH correlation stands at 0.32 on a 3-year window (1 year: 0.48, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is SBH a good diversifier for QQQ?
Reasonably. At 0.32, QQQ and SBH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · SBH correlations
