QQQ vs SKT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Tanger Inc. (SKT) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SKT?
Across a 3-year window, the weekly returns of QQQ and SKT correlate at 0.24, weak. The link has loosened recently: the 1-year correlation (-0.01) runs below the 3-year figure (0.24). Stretching to 5 years gives 0.38, with an annualized covariance of 111.5 %².
Within QQQ's tracked universe of 4755 assets, SKT comes in at #2316 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +14.9%, a 11.4-point spread.
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 SKT: side by side
| QQQ (Invesco QQQ Trust) | SKT (Tanger Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +14.9% |
| 5-year return | +95.4% | +178.9% |
| Volatility (ann.) | 19.6% | 23.6% |
| Beta vs S&P 500 | 1.28 | 0.60 |
| Max drawdown (3Y) | -22.8% | -21.0% |
| Market cap | – | $4.5B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.44% | 3.18% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SKT |
|---|---|---|
| 2022 | -32.6% | -2.3% |
| 2023 | +54.9% | +62.1% |
| 2024 | +25.6% | +27.7% |
| 2025 | +20.8% | +1.4% |
| 2026 | +17.7% | +15.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SKT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SKT?
Using weekly returns as of 2026-08-27: 0.24 over 3 years, with -0.01 over the last year and 0.38 over 5 years.
Is SKT a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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-skt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-skt/)
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Related comparisons
Hubs: QQQ correlations · SKT correlations
