QQQ vs SPFI: Correlation
How closely do Invesco QQQ Trust (QQQ) and South Plains Financial, Inc. (SPFI) 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 SPFI?
Across a 3-year window, the weekly returns of QQQ and SPFI correlate at 0.17, weak. The link has loosened recently: the 1-year correlation (-0.20) runs below the 3-year figure (0.17). Stretching to 5 years gives 0.21, with an annualized covariance of 90.2 %².
Within QQQ's tracked universe of 4755 assets, SPFI comes in at #3198 by 3-year correlation. The last year tells two different stories: QQQ led by 18.6 percentage points, +26.3% for QQQ against +7.7% for SPFI.
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 SPFI: side by side
| QQQ (Invesco QQQ Trust) | SPFI (South Plains Financial, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +7.7% |
| 5-year return | +95.4% | +108.3% |
| Volatility (ann.) | 19.6% | 27.6% |
| Beta vs S&P 500 | 1.28 | 0.61 |
| Max drawdown (3Y) | -22.8% | -23.8% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 11.9 |
| Dividend yield | 0.44% | 1.52% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | SPFI |
|---|---|---|
| 2022 | -32.6% | +0.7% |
| 2023 | +54.9% | +7.4% |
| 2024 | +25.6% | +22.2% |
| 2025 | +20.8% | +13.6% |
| 2026 | +17.7% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPFI good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SPFI?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with -0.20 over the last year and 0.21 over 5 years.
Is SPFI a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
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.
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Related comparisons
Hubs: QQQ correlations · SPFI correlations
