QQQ vs SG: Correlation
How closely do Invesco QQQ Trust (QQQ) and Sweetgreen, Inc. (SG) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SG?
On 3 years of weekly data the QQQ/SG correlation comes out at 0.31, moderate. Recent behaviour matches the longer record: 0.30 over 1 year against 0.31 over 3. The 5-year figure is 0.33, and annualized covariance runs at 485.4 %².
Among the 4755 assets we track against QQQ, SG ranks #1430 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 51.2 percentage points (+26.3% for QQQ against -24.9% for SG). Note the risk asymmetry: SG runs 4.1 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 SG: side by side
| QQQ (Invesco QQQ Trust) | SG (Sweetgreen, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -24.9% |
| 5-year return | +95.4% | -86.3% |
| Volatility (ann.) | 19.6% | 79.8% |
| Beta vs S&P 500 | 1.28 | 1.83 |
| Max drawdown (3Y) | -22.8% | -89.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 75.4 |
| 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 | SG |
|---|---|---|
| 2022 | -32.6% | -73.2% |
| 2023 | +54.9% | +31.9% |
| 2024 | +25.6% | +183.7% |
| 2025 | +20.8% | -78.9% |
| 2026 | +17.7% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SG?
As of 2026-08-27, the correlation of weekly returns between QQQ and SG is 0.31 over 3 years, 0.30 over 1 year and 0.33 over 5 years.
Is SG a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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.
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Hubs: QQQ correlations · SG correlations
