QQQ vs SLI: Correlation
How closely do Invesco QQQ Trust (QQQ) and Standard Lithium Ltd. (SLI) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SLI?
On 3 years of weekly data the QQQ/SLI correlation comes out at 0.23, weak. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 349.9 %².
Within QQQ's tracked universe of 4755 assets, SLI comes in at #2442 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 37.1 percentage points (+26.3% for QQQ against -10.8% for SLI). Note the risk asymmetry: SLI runs 3.9 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 SLI: side by side
| QQQ (Invesco QQQ Trust) | SLI (Standard Lithium Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | -10.8% |
| 5-year return | +95.4% | -51.8% |
| Volatility (ann.) | 19.6% | 77.0% |
| Beta vs S&P 500 | 1.28 | 1.21 |
| Max drawdown (3Y) | -22.8% | -69.9% |
| Market cap | – | $0.7B |
| 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 | SLI |
|---|---|---|
| 2022 | -32.6% | -69.9% |
| 2023 | +54.9% | -31.5% |
| 2024 | +25.6% | -27.7% |
| 2025 | +20.8% | +206.2% |
| 2026 | +17.7% | -40.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SLI good diversifiers for each other?
Reasonably. At 0.23, QQQ and SLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SLI?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.29 over the last year and 0.36 over 5 years.
Is SLI a good diversifier for QQQ?
Reasonably. At 0.23, QQQ and SLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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-sli.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-sli/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · SLI correlations
