QQQ vs SHMD: Correlation
How closely do Invesco QQQ Trust (QQQ) and SCHMID Group N.V. - Class A (SHMD) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHMD?
On 3 years of weekly data the QQQ/SHMD correlation comes out at 0.15, weak. The past 12 months show a tighter link (0.30) than the 3-year average (0.15). The 5-year figure is n/a, and annualized covariance runs at 291.5 %².
By 3-year correlation, SHMD places #3393 of the 4755 assets tracked against QQQ. Their 12-month results are close: +26.3% for QQQ against +28.8% for SHMD. One caveat on sizing: SHMD is 4.9 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 SHMD: side by side
| QQQ (Invesco QQQ Trust) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +26.3% | +28.8% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 96.9% |
| Beta vs S&P 500 | 1.28 | 0.77 |
| Max drawdown (3Y) | -22.8% | -69.6% |
| 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 | SHMD |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | – |
| 2025 | +20.8% | +101.1% |
| 2026 | +17.7% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHMD good diversifiers for each other?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SHMD?
Using weekly returns as of 2026-08-27: 0.15 over 3 years, with 0.30 over the last year and n/a over 5 years.
Is SHMD a good diversifier for QQQ?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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-shmd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-shmd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SHMD correlations
