QQQ vs SLS: Correlation
Invesco QQQ Trust (QQQ) and SELLAS Life Sciences Group, Inc. (SLS) show a near-zero relationship: their 3-year correlation of weekly returns is 0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SLS?
Across a 3-year window, the weekly returns of QQQ and SLS correlate at 0.07, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.07 over 3 years. Stretching to 5 years gives 0.19, with an annualized covariance of 144.5 %².
Within QQQ's tracked universe of 4755 assets, SLS comes in at #4074 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SLS ahead by 665.9 points (+26.3% versus +692.2%). One caveat on sizing: SLS is 5.2 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 SLS: side by side
| QQQ (Invesco QQQ Trust) | SLS (SELLAS Life Sciences Group, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +692.2% |
| 5-year return | +95.4% | +65.0% |
| Volatility (ann.) | 19.6% | 101.2% |
| Beta vs S&P 500 | 1.28 | 0.79 |
| Max drawdown (3Y) | -22.8% | -72.0% |
| Market cap | – | $3.1B |
| 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 | SLS |
|---|---|---|
| 2022 | -32.6% | -57.3% |
| 2023 | +54.9% | -55.1% |
| 2024 | +25.6% | -1.9% |
| 2025 | +20.8% | +262.5% |
| 2026 | +17.7% | +303.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SLS good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SLS?
Using weekly returns as of 2026-08-27: 0.07 over 3 years, with -0.08 over the last year and 0.19 over 5 years.
Is SLS a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 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-sls.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-sls/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SLS correlations
