QQQ vs SMCI: Correlation
Invesco QQQ Trust (QQQ) and Supermicro (SMCI) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMCI?
Over the past 3 years, QQQ and SMCI moved with a correlation of 0.46, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 958.9 %².
Within QQQ's tracked universe of 4755 assets, SMCI comes in at #389 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.4 percentage points (+26.3% for QQQ against -14.1% for SMCI). On a rolling one-year basis the correlation drifted between 0.31 and 0.57, a moderate band. Note the risk asymmetry: SMCI runs 5.5 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 SMCI: side by side
| QQQ (Invesco QQQ Trust) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | +26.3% | -14.1% |
| 5-year return | +95.4% | +983.4% |
| Volatility (ann.) | 19.6% | 107.1% |
| Beta vs S&P 500 | 1.28 | 3.08 |
| Max drawdown (3Y) | -22.8% | -84.8% |
| Market cap | – | $24.9B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Information Technology |
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 | SMCI |
|---|---|---|
| 2022 | -32.6% | +86.8% |
| 2023 | +54.9% | +246.2% |
| 2024 | +25.6% | +7.2% |
| 2025 | +20.8% | -4.0% |
| 2026 | +17.7% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMCI good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SMCI?
The QQQ/SMCI correlation stands at 0.46 on a 3-year window (1 year: 0.41, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SMCI a good diversifier for QQQ?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-smci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-smci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · SMCI correlations
