QQQ vs SFWL: Correlation
Invesco QQQ Trust (QQQ) and Shengfeng Development Limited - Class A (SFWL) show a near-zero relationship: their 3-year correlation of weekly returns is -0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SFWL?
On 3 years of weekly data the QQQ/SFWL correlation comes out at -0.02, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.09 over 1 year against -0.02 over 3. The 5-year figure is n/a, and annualized covariance runs at -31.6 %².
By 3-year correlation, SFWL places #4563 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 40.7 percentage points, +26.3% for QQQ against -14.4% for SFWL. One caveat on sizing: SFWL is 4.8 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 SFWL: side by side
| QQQ (Invesco QQQ Trust) | SFWL (Shengfeng Development Limited - Class A) | |
|---|---|---|
| 1-year return | +26.3% | -14.4% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 94.3% |
| Beta vs S&P 500 | 1.28 | 0.08 |
| Max drawdown (3Y) | -22.8% | -95.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 6.2 |
| 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 | SFWL |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | -63.3% |
| 2025 | +20.8% | -12.0% |
| 2026 | +17.7% | -8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SFWL good diversifiers for each other?
Yes. With a correlation of -0.02, QQQ and SFWL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and SFWL?
Using weekly returns as of 2026-08-27: -0.02 over 3 years, with -0.09 over the last year and n/a over 5 years.
Is SFWL a good diversifier for QQQ?
Yes. With a correlation of -0.02, QQQ and SFWL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.02 mean?
A reading of -0.02 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-sfwl.json
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Related comparisons
Hubs: QQQ correlations · SFWL correlations
