QQQ vs SCZM: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Santacruz Silver Mining Ltd. (SCZM) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SCZM?
Over the past 3 years, QQQ and SCZM moved with a correlation of 0.25, which is weak. The link has tightened recently: the 1-year correlation (0.43) runs above the 3-year figure (0.25). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 462.7 %².
Within QQQ's tracked universe of 4755 assets, SCZM comes in at #2163 by 3-year correlation. The last year tells two different stories: SCZM led by 82.5 percentage points, +26.3% for QQQ against +108.8% for SCZM. One caveat on sizing: SCZM is 4.9 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 SCZM: side by side
| QQQ (Invesco QQQ Trust) | SCZM (Santacruz Silver Mining Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | +108.8% |
| 5-year return | +95.4% | +818.6% |
| Volatility (ann.) | 19.6% | 96.4% |
| Beta vs S&P 500 | 1.28 | 1.72 |
| Max drawdown (3Y) | -22.8% | -63.2% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SCZM |
|---|---|---|
| 2022 | -32.6% | +25.0% |
| 2023 | +54.9% | -38.3% |
| 2024 | +25.6% | +5.5% |
| 2025 | +20.8% | +1137.2% |
| 2026 | +17.7% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SCZM good diversifiers for each other?
Reasonably. At 0.25, QQQ and SCZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SCZM?
As of 2026-08-27, the correlation of weekly returns between QQQ and SCZM is 0.25 over 3 years, 0.43 over 1 year and 0.22 over 5 years.
Is SCZM a good diversifier for QQQ?
Reasonably. At 0.25, QQQ and SCZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-sczm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-sczm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SCZM correlations
