QQQ vs SHBI: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Shore Bancshares, Inc. (SHBI) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHBI?
On 3 years of weekly data the QQQ/SHBI correlation comes out at 0.27, weak. Lately the two have drifted apart, with the 1-year correlation at -0.02 versus 0.27 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 170.4 %².
By 3-year correlation, SHBI places #1905 of the 4755 assets tracked against QQQ. On 12-month performance SHBI holds a 11.4-point edge, +26.3% against +37.7%. One caveat on sizing: SHBI is 1.7 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 SHBI: side by side
| QQQ (Invesco QQQ Trust) | SHBI (Shore Bancshares, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +37.7% |
| 5-year return | +95.4% | +51.7% |
| Volatility (ann.) | 19.6% | 32.6% |
| Beta vs S&P 500 | 1.28 | 0.89 |
| Max drawdown (3Y) | -22.8% | -31.9% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 11.7 |
| Dividend yield | 0.44% | 2.16% |
| 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 | SHBI |
|---|---|---|
| 2022 | -32.6% | -14.4% |
| 2023 | +54.9% | -15.1% |
| 2024 | +25.6% | +15.6% |
| 2025 | +20.8% | +15.0% |
| 2026 | +17.7% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHBI good diversifiers for each other?
Reasonably. At 0.27, QQQ and SHBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SHBI?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with -0.02 over the last year and 0.23 over 5 years.
Is SHBI a good diversifier for QQQ?
Reasonably. At 0.27, QQQ and SHBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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-shbi.json
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Related comparisons
Hubs: QQQ correlations · SHBI correlations
