QQQ vs SMSI: Correlation
How closely do Invesco QQQ Trust (QQQ) and Smith Micro Software, Inc. (SMSI) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMSI?
Over the past 3 years, QQQ and SMSI moved with a correlation of 0.15, which is weak. Little has changed lately, as the 1-year reading of 0.20 lands near the 3-year figure. Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 276.0 %².
Within QQQ's tracked universe of 4755 assets, SMSI comes in at #3396 by 3-year correlation. The last year tells two different stories: QQQ led by 45.2 percentage points, +26.3% for QQQ against -18.9% for SMSI. One caveat on sizing: SMSI is 4.8 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 SMSI: side by side
| QQQ (Invesco QQQ Trust) | SMSI (Smith Micro Software, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -18.9% |
| 5-year return | +95.4% | -98.5% |
| Volatility (ann.) | 19.6% | 94.7% |
| Beta vs S&P 500 | 1.28 | 0.95 |
| Max drawdown (3Y) | -22.8% | -96.8% |
| Market cap | – | – |
| 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 |
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 | SMSI |
|---|---|---|
| 2022 | -32.6% | -57.3% |
| 2023 | +54.9% | -60.5% |
| 2024 | +25.6% | -80.3% |
| 2025 | +20.8% | -58.8% |
| 2026 | +17.7% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMSI good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SMSI?
The QQQ/SMSI correlation stands at 0.15 on a 3-year window (1 year: 0.20, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is SMSI a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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-smsi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-smsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · SMSI correlations
