QQQ vs SPOT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Spotify Technology S.A. (SPOT) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPOT?
Over the past 3 years, QQQ and SPOT moved with a correlation of 0.29, which is weak. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.29). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 226.8 %².
Within QQQ's tracked universe of 4755 assets, SPOT comes in at #1660 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 50.2 points (+26.3% versus -23.9%). Note the risk asymmetry: SPOT runs 2.0 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 SPOT: side by side
| QQQ (Invesco QQQ Trust) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | +26.3% | -23.9% |
| 5-year return | +95.4% | +126.2% |
| Volatility (ann.) | 19.6% | 39.5% |
| Beta vs S&P 500 | 1.28 | 0.85 |
| Max drawdown (3Y) | -22.8% | -46.8% |
| Market cap | – | $108.4B |
| P/E (trailing) | – | 29.6 |
| Dividend yield | 0.44% | 0.00% |
| 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 | SPOT |
|---|---|---|
| 2022 | -32.6% | -66.3% |
| 2023 | +54.9% | +138.0% |
| 2024 | +25.6% | +138.1% |
| 2025 | +20.8% | +29.8% |
| 2026 | +17.7% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPOT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and SPOT?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.11 over the last year and 0.52 over 5 years.
Is SPOT a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · SPOT correlations
