QQQ vs SLM: Correlation
How closely do Invesco QQQ Trust (QQQ) and SLM Corporation (SLM) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SLM?
Over the past 3 years, QQQ and SLM moved with a correlation of 0.35, which is moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.35). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 225.1 %².
Among the 4755 assets we track against QQQ, SLM ranks #1047 by 3-year correlation. The last year tells two different stories: QQQ led by 40.1 percentage points, +26.3% for QQQ against -13.8% for SLM. Risk is not evenly split, since SLM carries 1.7 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 SLM: side by side
| QQQ (Invesco QQQ Trust) | SLM (SLM Corporation) | |
|---|---|---|
| 1-year return | +26.3% | -13.8% |
| 5-year return | +95.4% | +62.3% |
| Volatility (ann.) | 19.6% | 33.1% |
| Beta vs S&P 500 | 1.28 | 0.96 |
| Max drawdown (3Y) | -22.8% | -45.1% |
| Market cap | – | $5.0B |
| P/E (trailing) | – | 7.5 |
| Dividend yield | 0.44% | 1.94% |
| 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 | SLM |
|---|---|---|
| 2022 | -32.6% | -13.5% |
| 2023 | +54.9% | +18.7% |
| 2024 | +25.6% | +47.3% |
| 2025 | +20.8% | -0.2% |
| 2026 | +17.7% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SLM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SLM?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.18 over the last year and 0.41 over 5 years.
Is SLM a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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-slm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-slm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SLM correlations
