QQQ vs SKE: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Skeena Resources Limited (SKE) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SKE?
Across a 3-year window, the weekly returns of QQQ and SKE correlate at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 390.0 %².
By 3-year correlation, SKE places #1338 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with SKE ahead by 96.5 points (+26.3% versus +122.8%). Note the risk asymmetry: SKE runs 3.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SKE: side by side
| QQQ (Invesco QQQ Trust) | SKE (Skeena Resources Limited) | |
|---|---|---|
| 1-year return | +26.3% | +122.8% |
| 5-year return | +95.4% | +205.9% |
| Volatility (ann.) | 19.6% | 62.6% |
| Beta vs S&P 500 | 1.28 | 1.42 |
| Max drawdown (3Y) | -22.8% | -36.1% |
| Market cap | – | $4.4B |
| 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 |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SKE |
|---|---|---|
| 2022 | -32.6% | -49.0% |
| 2023 | +54.9% | -8.3% |
| 2024 | +25.6% | +78.7% |
| 2025 | +20.8% | +172.1% |
| 2026 | +17.7% | +48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SKE good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SKE?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.37 over the last year and 0.27 over 5 years.
Is SKE a good diversifier for QQQ?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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-ske.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-ske/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SKE correlations
