QQQ vs SMWB: Correlation
How closely do Invesco QQQ Trust (QQQ) and Similarweb Ltd. (SMWB) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SMWB?
Across a 3-year window, the weekly returns of QQQ and SMWB correlate at 0.17, weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.17 over 3. Stretching to 5 years gives 0.33, with an annualized covariance of 224.9 %².
By 3-year correlation, SMWB places #3196 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 32.2 points (+26.3% versus -5.9%). Note the risk asymmetry: SMWB runs 3.5 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 SMWB: side by side
| QQQ (Invesco QQQ Trust) | SMWB (Similarweb Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | -5.9% |
| 5-year return | +95.4% | -52.1% |
| Volatility (ann.) | 19.6% | 68.1% |
| Beta vs S&P 500 | 1.28 | 0.91 |
| Max drawdown (3Y) | -22.8% | -86.7% |
| Market cap | – | $0.8B |
| 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 | SMWB |
|---|---|---|
| 2022 | -32.6% | -64.1% |
| 2023 | +54.9% | -17.1% |
| 2024 | +25.6% | +165.9% |
| 2025 | +20.8% | -47.1% |
| 2026 | +17.7% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SMWB good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SMWB?
The QQQ/SMWB correlation stands at 0.17 on a 3-year window (1 year: 0.25, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is SMWB a good diversifier for QQQ?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
A reading of 0.17 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 · SMWB correlations
