QQQ vs SPB: Correlation
Invesco QQQ Trust (QQQ) and Spectrum Brands Holdings, Inc. (SPB) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPB?
Over the past 3 years, QQQ and SPB moved with a correlation of 0.28, which is weak. The past 12 months show a weaker link (0.03) than the 3-year average (0.28). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 171.9 %².
Within QQQ's tracked universe of 4755 assets, SPB comes in at #1774 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPB ahead by 34.4 points (+26.3% versus +60.7%). Note the risk asymmetry: SPB runs 1.6 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 SPB: side by side
| QQQ (Invesco QQQ Trust) | SPB (Spectrum Brands Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +60.7% |
| 5-year return | +95.4% | +26.1% |
| Volatility (ann.) | 19.6% | 31.9% |
| Beta vs S&P 500 | 1.28 | 0.83 |
| Max drawdown (3Y) | -22.8% | -46.3% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | 27.7 |
| Dividend yield | 0.44% | 2.11% |
| 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 | SPB |
|---|---|---|
| 2022 | -32.6% | -38.7% |
| 2023 | +54.9% | +34.1% |
| 2024 | +25.6% | +8.0% |
| 2025 | +20.8% | -27.9% |
| 2026 | +17.7% | +52.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SPB?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.03 over the last year and 0.37 over 5 years.
Is SPB a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · SPB correlations
