QQQ vs SBSW: Correlation
How closely do Invesco QQQ Trust (QQQ) and D/B/A Sibanye-Stillwater Limited (SBSW) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SBSW?
Across a 3-year window, the weekly returns of QQQ and SBSW correlate at 0.27, weak. The link has tightened recently: the 1-year correlation (0.38) runs above the 3-year figure (0.27). Stretching to 5 years gives 0.28, with an annualized covariance of 348.1 %².
By 3-year correlation, SBSW places #1902 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months SBSW outperformed by 34.2 percentage points (+26.3% for QQQ against +60.5% for SBSW). One caveat on sizing: SBSW is 3.4 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 SBSW: side by side
| QQQ (Invesco QQQ Trust) | SBSW (D/B/A Sibanye-Stillwater Limited) | |
|---|---|---|
| 1-year return | +26.3% | +60.5% |
| 5-year return | +95.4% | -6.1% |
| Volatility (ann.) | 19.6% | 65.8% |
| Beta vs S&P 500 | 1.28 | 1.28 |
| Max drawdown (3Y) | -22.8% | -61.0% |
| Market cap | – | $8.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 10.84% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SBSW |
|---|---|---|
| 2022 | -32.6% | -9.6% |
| 2023 | +54.9% | -46.6% |
| 2024 | +25.6% | -39.2% |
| 2025 | +20.8% | +331.8% |
| 2026 | +17.7% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SBSW good diversifiers for each other?
Reasonably. At 0.27, QQQ and SBSW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SBSW?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.38 over the last year and 0.28 over 5 years.
Is SBSW a good diversifier for QQQ?
Reasonably. At 0.27, QQQ and SBSW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-sbsw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-sbsw/)
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Related comparisons
Hubs: QQQ correlations · SBSW correlations
