QQQ vs SHIM: Correlation
Invesco QQQ Trust (QQQ) and Shimmick Corporation (SHIM) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHIM?
On 3 years of weekly data the QQQ/SHIM correlation comes out at 0.11, weak. The link has tightened recently: the 1-year correlation (0.30) runs above the 3-year figure (0.11). The 5-year figure is n/a, and annualized covariance runs at 267.1 %².
Within QQQ's tracked universe of 4755 assets, SHIM comes in at #3782 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +21.3%, a 5.0-point spread. One caveat on sizing: SHIM is 6.2 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 SHIM: side by side
| QQQ (Invesco QQQ Trust) | SHIM (Shimmick Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +21.3% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 120.7% |
| Beta vs S&P 500 | 1.28 | 1.54 |
| Max drawdown (3Y) | -22.8% | -82.2% |
| Market cap | – | $0.2B |
| 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 | SHIM |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | -60.8% |
| 2025 | +20.8% | +12.7% |
| 2026 | +17.7% | +36.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHIM good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SHIM?
As of 2026-08-27, the correlation of weekly returns between QQQ and SHIM is 0.11 over 3 years, 0.30 over 1 year and n/a over 5 years.
Is SHIM a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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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Related comparisons
Hubs: QQQ correlations · SHIM correlations
