QQQ vs SPMC: Correlation
How closely do Invesco QQQ Trust (QQQ) and Sound Point Meridian Capital, Inc. (SPMC) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPMC?
Over the past 3 years, QQQ and SPMC moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 271.6 %².
By 3-year correlation, SPMC places #530 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 60.9 points (+26.3% versus -34.6%). Risk is not evenly split, since SPMC carries 1.6 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 SPMC: side by side
| QQQ (Invesco QQQ Trust) | SPMC (Sound Point Meridian Capital, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -34.6% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 31.4% |
| Beta vs S&P 500 | 1.28 | 1.01 |
| Max drawdown (3Y) | -22.8% | -52.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 30.91% |
| 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 | SPMC |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | – |
| 2025 | +20.8% | -22.5% |
| 2026 | +17.7% | -20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPMC good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and SPMC?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.31 over the last year and n/a over 5 years.
Is SPMC a good diversifier for QQQ?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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-spmc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-spmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SPMC correlations
