QQQ vs SMTC: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Semtech Corporation (SMTC) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMTC?
On 3 years of weekly data the QQQ/SMTC correlation comes out at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.44 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 593.2 %².
Within QQQ's tracked universe of 4755 assets, SMTC comes in at #458 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SMTC ahead by 118.7 points (+26.3% versus +145.0%). Risk is not evenly split, since SMTC carries 3.5 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 SMTC: side by side
| QQQ (Invesco QQQ Trust) | SMTC (Semtech Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +145.0% |
| 5-year return | +95.4% | +103.9% |
| Volatility (ann.) | 19.6% | 68.2% |
| Beta vs S&P 500 | 1.28 | 2.23 |
| Max drawdown (3Y) | -22.8% | -68.5% |
| Market cap | – | $13.3B |
| 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 is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SMTC |
|---|---|---|
| 2022 | -32.6% | -67.7% |
| 2023 | +54.9% | -23.6% |
| 2024 | +25.6% | +182.3% |
| 2025 | +20.8% | +19.1% |
| 2026 | +17.7% | +93.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMTC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SMTC?
The QQQ/SMTC correlation stands at 0.44 on a 3-year window (1 year: 0.59, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is SMTC a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-smtc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-smtc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SMTC correlations
