QQQ vs SND: Correlation
Invesco QQQ Trust (QQQ) and Smart Sand, Inc. (SND) show a near-zero relationship: their 3-year correlation of weekly returns is 0.01.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SND?
On 3 years of weekly data the QQQ/SND correlation comes out at 0.01, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.23 versus 0.01 over 3 years. The 5-year figure is 0.10, and annualized covariance runs at 11.7 %².
By 3-year correlation, SND places #4445 of the 4755 assets tracked against QQQ. The last year tells two different stories: SND led by 143.2 percentage points, +26.3% for QQQ against +169.5% for SND. Note the risk asymmetry: SND runs 2.9 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 SND: side by side
| QQQ (Invesco QQQ Trust) | SND (Smart Sand, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +169.5% |
| 5-year return | +95.4% | +141.8% |
| Volatility (ann.) | 19.6% | 57.5% |
| Beta vs S&P 500 | 1.28 | 0.34 |
| Max drawdown (3Y) | -22.8% | -33.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 19.4 |
| 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 | SND |
|---|---|---|
| 2022 | -32.6% | +0.6% |
| 2023 | +54.9% | +7.8% |
| 2024 | +25.6% | +22.1% |
| 2025 | +20.8% | +89.8% |
| 2026 | +17.7% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SND good diversifiers for each other?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SND?
As of 2026-08-27, the correlation of weekly returns between QQQ and SND is 0.01 over 3 years, -0.23 over 1 year and 0.10 over 5 years.
Is SND a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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-snd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-snd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SND correlations
