QQQ vs SMC: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Summit Midstream Corporation (SMC) carry a correlation of 0.08, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMC?
Across a 3-year window, the weekly returns of QQQ and SMC correlate at 0.08, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.21 versus 0.08 over 3 years. Stretching to 5 years gives 0.14, with an annualized covariance of 85.9 %².
By 3-year correlation, SMC places #4006 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months SMC outperformed by 38.9 percentage points (+26.3% for QQQ against +65.2% for SMC). Risk is not evenly split, since SMC carries 2.7 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 SMC: side by side
| QQQ (Invesco QQQ Trust) | SMC (Summit Midstream Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +65.2% |
| 5-year return | +95.4% | +1.2% |
| Volatility (ann.) | 19.6% | 52.2% |
| Beta vs S&P 500 | 1.28 | 0.43 |
| Max drawdown (3Y) | -22.8% | -57.3% |
| 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 |
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 | SMC |
|---|---|---|
| 2022 | -32.6% | -24.9% |
| 2023 | +54.9% | +7.4% |
| 2024 | +25.6% | +110.9% |
| 2025 | +20.8% | -29.4% |
| 2026 | +17.7% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMC good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SMC?
As of 2026-08-27, the correlation of weekly returns between QQQ and SMC is 0.08 over 3 years, -0.21 over 1 year and 0.14 over 5 years.
Is SMC a good diversifier for QQQ?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: QQQ correlations · SMC correlations
