QQQ vs SHAK: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Shake Shack, Inc. (SHAK) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHAK?
Across a 3-year window, the weekly returns of QQQ and SHAK correlate at 0.34, moderate. Recent behaviour matches the longer record: 0.28 over 1 year against 0.34 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 338.5 %².
By 3-year correlation, SHAK places #1142 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 60.2 percentage points, +26.3% for QQQ against -33.9% for SHAK. One caveat on sizing: SHAK is 2.6 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 SHAK: side by side
| QQQ (Invesco QQQ Trust) | SHAK (Shake Shack, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -33.9% |
| 5-year return | +95.4% | -18.1% |
| Volatility (ann.) | 19.6% | 51.5% |
| Beta vs S&P 500 | 1.28 | 1.42 |
| Max drawdown (3Y) | -22.8% | -63.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 76.7 |
| Dividend yield | 0.44% | 0.00% |
| 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 | SHAK |
|---|---|---|
| 2022 | -32.6% | -42.4% |
| 2023 | +54.9% | +78.5% |
| 2024 | +25.6% | +75.1% |
| 2025 | +20.8% | -37.5% |
| 2026 | +17.7% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHAK good diversifiers for each other?
Reasonably. At 0.34, QQQ and SHAK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SHAK?
As of 2026-08-27, the correlation of weekly returns between QQQ and SHAK is 0.34 over 3 years, 0.28 over 1 year and 0.45 over 5 years.
Is SHAK a good diversifier for QQQ?
Reasonably. At 0.34, QQQ and SHAK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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-shak.json
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Related comparisons
Hubs: QQQ correlations · SHAK correlations
