QQQ vs SPH: Correlation
How closely do Invesco QQQ Trust (QQQ) and Suburban Propane Partners, L.P. (SPH) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPH?
Over the past 3 years, QQQ and SPH moved with a correlation of 0.06, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.26) runs below the 3-year figure (0.06). Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 30.7 %².
By 3-year correlation, SPH places #4139 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.6 points (+26.3% versus +0.7%).
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 SPH: side by side
| QQQ (Invesco QQQ Trust) | SPH (Suburban Propane Partners, L.P.) | |
|---|---|---|
| 1-year return | +26.3% | +0.7% |
| 5-year return | +95.4% | +66.9% |
| Volatility (ann.) | 19.6% | 25.4% |
| Beta vs S&P 500 | 1.28 | 0.23 |
| Max drawdown (3Y) | -22.8% | -20.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 9.1 |
| Dividend yield | 0.44% | 7.34% |
| 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 | SPH |
|---|---|---|
| 2022 | -32.6% | +12.3% |
| 2023 | +54.9% | +27.0% |
| 2024 | +25.6% | +3.8% |
| 2025 | +20.8% | +15.2% |
| 2026 | +17.7% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPH good diversifiers for each other?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and SPH?
As of 2026-08-27, the correlation of weekly returns between QQQ and SPH is 0.06 over 3 years, -0.26 over 1 year and 0.14 over 5 years.
Is SPH a good diversifier for QQQ?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.06 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-sph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-sph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · SPH correlations
