QQQ vs SLDP: Correlation
Invesco QQQ Trust (QQQ) and Solid Power, Inc. (SLDP) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SLDP?
Across a 3-year window, the weekly returns of QQQ and SLDP correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.34, with an annualized covariance of 505.1 %².
Within QQQ's tracked universe of 4755 assets, SLDP comes in at #1534 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 72.7 points (+26.3% versus -46.4%). One caveat on sizing: SLDP is 4.5 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 SLDP: side by side
| QQQ (Invesco QQQ Trust) | SLDP (Solid Power, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -46.4% |
| 5-year return | +95.4% | -76.1% |
| Volatility (ann.) | 19.6% | 87.4% |
| Beta vs S&P 500 | 1.28 | 1.88 |
| Max drawdown (3Y) | -22.8% | -76.5% |
| Market cap | – | $0.5B |
| 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 | SLDP |
|---|---|---|
| 2022 | -32.6% | -70.9% |
| 2023 | +54.9% | -42.9% |
| 2024 | +25.6% | +30.3% |
| 2025 | +20.8% | +124.9% |
| 2026 | +17.7% | -44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SLDP good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SLDP?
As of 2026-08-27, the correlation of weekly returns between QQQ and SLDP is 0.30 over 3 years, 0.29 over 1 year and 0.34 over 5 years.
Is SLDP a good diversifier for QQQ?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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-sldp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-sldp/)
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Related comparisons
Hubs: QQQ correlations · SLDP correlations
