QQQ vs SPCE: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Virgin Galactic Holdings, Inc. (SPCE) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPCE?
Over the past 3 years, QQQ and SPCE moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 783.9 %².
Within QQQ's tracked universe of 4755 assets, SPCE comes in at #641 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 29.2 points (+26.3% versus -2.9%). Note the risk asymmetry: SPCE runs 5.1 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 SPCE: side by side
| QQQ (Invesco QQQ Trust) | SPCE (Virgin Galactic Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -2.9% |
| 5-year return | +95.4% | -99.4% |
| Volatility (ann.) | 19.6% | 100.5% |
| Beta vs S&P 500 | 1.28 | 2.82 |
| Max drawdown (3Y) | -22.8% | -96.0% |
| Market cap | – | $0.5B |
| 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 | SPCE |
|---|---|---|
| 2022 | -32.6% | -74.0% |
| 2023 | +54.9% | -29.6% |
| 2024 | +25.6% | -88.0% |
| 2025 | +20.8% | -45.4% |
| 2026 | +17.7% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPCE good diversifiers for each other?
Reasonably. At 0.40, QQQ and SPCE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and SPCE?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.44 over the last year and 0.42 over 5 years.
Is SPCE a good diversifier for QQQ?
Reasonably. At 0.40, QQQ and SPCE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: QQQ correlations · SPCE correlations
