QQQ vs SLNH: Correlation
Invesco QQQ Trust (QQQ) and Soluna Holdings, Inc. (SLNH) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SLNH?
Over the past 3 years, QQQ and SLNH moved with a correlation of 0.26, which is weak. The relationship has been stable: the 1-year correlation (0.30) sits close to the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 902.1 %².
Within QQQ's tracked universe of 4755 assets, SLNH comes in at #2039 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SLNH ahead by 121.6 points (+26.3% versus +147.9%). Note the risk asymmetry: SLNH runs 9.1 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 SLNH: side by side
| QQQ (Invesco QQQ Trust) | SLNH (Soluna Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +147.9% |
| 5-year return | +95.4% | -99.5% |
| Volatility (ann.) | 19.6% | 179.3% |
| Beta vs S&P 500 | 1.28 | 3.25 |
| Max drawdown (3Y) | -22.8% | -94.8% |
| Market cap | – | $0.3B |
| 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, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SLNH |
|---|---|---|
| 2022 | -32.6% | -97.6% |
| 2023 | +54.9% | -38.5% |
| 2024 | +25.6% | -47.5% |
| 2025 | +20.8% | -44.3% |
| 2026 | +17.7% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SLNH good diversifiers for each other?
Reasonably. At 0.26, QQQ and SLNH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SLNH?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.30 over the last year and 0.27 over 5 years.
Is SLNH a good diversifier for QQQ?
Reasonably. At 0.26, QQQ and SLNH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 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-slnh.json
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Related comparisons
Hubs: QQQ correlations · SLNH correlations
