QQQ vs SDRL: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Seadrill Limited (SDRL) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SDRL?
Over the past 3 years, QQQ and SDRL moved with a correlation of 0.24, which is weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.24). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 184.8 %².
By 3-year correlation, SDRL places #2315 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months SDRL outperformed by 25.0 percentage points (+26.3% for QQQ against +51.3% for SDRL). Note the risk asymmetry: SDRL runs 2.0 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 SDRL: side by side
| QQQ (Invesco QQQ Trust) | SDRL (Seadrill Limited) | |
|---|---|---|
| 1-year return | +26.3% | +51.3% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 38.9% |
| Beta vs S&P 500 | 1.28 | 0.91 |
| Max drawdown (3Y) | -22.8% | -66.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 1612.7 |
| 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 | SDRL |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | +44.9% |
| 2024 | +25.6% | -17.7% |
| 2025 | +20.8% | -11.1% |
| 2026 | +17.7% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SDRL good diversifiers for each other?
Reasonably. At 0.24, QQQ and SDRL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SDRL?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with -0.07 over the last year and 0.25 over 5 years.
Is SDRL a good diversifier for QQQ?
Reasonably. At 0.24, QQQ and SDRL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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-sdrl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-sdrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SDRL correlations
