QQQ vs SHW: Correlation
Invesco QQQ Trust (QQQ) and Sherwin-Williams (SHW) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SHW?
Across a 3-year window, the weekly returns of QQQ and SHW correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.34 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 163.1 %².
By 3-year correlation, SHW places #1144 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 31.4 percentage points, +26.3% for QQQ against -5.1% for SHW. The relationship is regime-dependent: the rolling one-year correlation swung between 0.09 and 0.70 over the past three years, so this pair behaves very differently depending on the market environment.
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 SHW: side by side
| QQQ (Invesco QQQ Trust) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | +26.3% | -5.1% |
| 5-year return | +95.4% | +18.3% |
| Volatility (ann.) | 19.6% | 24.6% |
| Beta vs S&P 500 | 1.28 | 0.79 |
| Max drawdown (3Y) | -22.8% | -25.7% |
| Market cap | – | $83.8B |
| P/E (trailing) | – | 31.8 |
| Dividend yield | 0.44% | 0.91% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Materials |
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 | SHW |
|---|---|---|
| 2022 | -32.6% | -32.0% |
| 2023 | +54.9% | +32.7% |
| 2024 | +25.6% | +9.9% |
| 2025 | +20.8% | -3.8% |
| 2026 | +17.7% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SHW good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SHW?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.20 over the last year and 0.46 over 5 years.
Is SHW a good diversifier for QQQ?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 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-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SHW correlations
