QQQ vs SNOW: Correlation
How closely do Invesco QQQ Trust (QQQ) and Snowflake Inc. (SNOW) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SNOW?
On 3 years of weekly data the QQQ/SNOW correlation comes out at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 421.6 %².
Within QQQ's tracked universe of 4755 assets, SNOW comes in at #718 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SNOW ahead by 37.9 points (+26.3% versus +64.2%). Risk is not evenly split, since SNOW carries 2.8 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 SNOW: side by side
| QQQ (Invesco QQQ Trust) | SNOW (Snowflake Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +64.2% |
| 5-year return | +95.4% | +10.5% |
| Volatility (ann.) | 19.6% | 55.4% |
| Beta vs S&P 500 | 1.28 | 1.41 |
| Max drawdown (3Y) | -22.8% | -56.3% |
| Market cap | – | $114.1B |
| 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 | SNOW |
|---|---|---|
| 2022 | -32.6% | -57.6% |
| 2023 | +54.9% | +38.6% |
| 2024 | +25.6% | -22.4% |
| 2025 | +20.8% | +42.1% |
| 2026 | +17.7% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SNOW good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SNOW?
As of 2026-08-27, the correlation of weekly returns between QQQ and SNOW is 0.39 over 3 years, 0.32 over 1 year and 0.49 over 5 years.
Is SNOW a good diversifier for QQQ?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-snow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-snow/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · SNOW correlations
