QQQ vs SKYH: Correlation
Invesco QQQ Trust (QQQ) and Sky Harbour Group Corporation (SKYH) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SKYH?
Across a 3-year window, the weekly returns of QQQ and SKYH correlate at 0.25, weak. Recent behaviour matches the longer record: 0.32 over 1 year against 0.25 over 3. Stretching to 5 years gives 0.18, with an annualized covariance of 280.7 %².
Within QQQ's tracked universe of 4755 assets, SKYH comes in at #2168 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 27.7 points (+26.3% versus -1.4%). Risk is not evenly split, since SKYH carries 2.9 times the volatility of the other side.
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 SKYH: side by side
| QQQ (Invesco QQQ Trust) | SKYH (Sky Harbour Group Corporation) | |
|---|---|---|
| 1-year return | +26.3% | -1.4% |
| 5-year return | +95.4% | +4.5% |
| Volatility (ann.) | 19.6% | 57.5% |
| Beta vs S&P 500 | 1.28 | 1.13 |
| Max drawdown (3Y) | -22.8% | -39.9% |
| Market cap | – | $0.9B |
| 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 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 | SKYH |
|---|---|---|
| 2022 | -32.6% | -73.8% |
| 2023 | +54.9% | +263.2% |
| 2024 | +25.6% | +23.5% |
| 2025 | +20.8% | -24.8% |
| 2026 | +17.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SKYH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SKYH?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.32 over the last year and 0.18 over 5 years.
Is SKYH a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 mean?
A reading of 0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · SKYH correlations
