QQQ vs SHFS: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and SHF Holdings, Inc. (SHFS) carry a correlation of 0.08, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHFS?
On 3 years of weekly data the QQQ/SHFS correlation comes out at 0.08, near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.01 over 1 year against 0.08 over 3. The 5-year figure is 0.07, and annualized covariance runs at 231.3 %².
By 3-year correlation, SHFS places #4003 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 119.2 points (+26.3% versus -92.9%). Risk is not evenly split, since SHFS carries 7.7 times the volatility of the other side.
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 SHFS: side by side
| QQQ (Invesco QQQ Trust) | SHFS (SHF Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -92.9% |
| 5-year return | +95.4% | -99.9% |
| Volatility (ann.) | 19.6% | 150.8% |
| Beta vs S&P 500 | 1.28 | 1.27 |
| Max drawdown (3Y) | -22.8% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | SHFS |
|---|---|---|
| 2022 | -32.6% | -82.4% |
| 2023 | +54.9% | -20.0% |
| 2024 | +25.6% | -68.3% |
| 2025 | +20.8% | -88.2% |
| 2026 | +17.7% | -84.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHFS good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SHFS?
The QQQ/SHFS correlation stands at 0.08 on a 3-year window (1 year: -0.01, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is SHFS a good diversifier for QQQ?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-shfs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-shfs/)
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Related comparisons
Hubs: QQQ correlations · SHFS correlations
