QQQ vs SBI: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Western Asset Intermediate Muni Fund Inc (SBI) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SBI?
Across a 3-year window, the weekly returns of QQQ and SBI correlate at 0.28, weak. Lately the two have moved closer together, with the 1-year correlation at 0.46 versus 0.28 over 3 years. Stretching to 5 years gives 0.34, with an annualized covariance of 43.8 %².
Within QQQ's tracked universe of 4755 assets, SBI comes in at #1772 by 3-year correlation. The last year tells two different stories: QQQ led by 20.0 percentage points, +26.3% for QQQ against +6.3% for SBI. One caveat on sizing: QQQ is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SBI: side by side
| QQQ (Invesco QQQ Trust) | SBI (Western Asset Intermediate Muni Fund Inc) | |
|---|---|---|
| 1-year return | +26.3% | +6.3% |
| 5-year return | +95.4% | +0.9% |
| Volatility (ann.) | 19.6% | 7.9% |
| Beta vs S&P 500 | 1.28 | 0.19 |
| Max drawdown (3Y) | -22.8% | -7.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 12.5 |
| Dividend yield | 0.44% | 3.31% |
| 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 | SBI |
|---|---|---|
| 2022 | -32.6% | -18.4% |
| 2023 | +54.9% | +5.4% |
| 2024 | +25.6% | +6.8% |
| 2025 | +20.8% | +5.9% |
| 2026 | +17.7% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SBI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SBI?
As of 2026-08-27, the correlation of weekly returns between QQQ and SBI is 0.28 over 3 years, 0.46 over 1 year and 0.34 over 5 years.
Is SBI a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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 · SBI correlations
