QQQ vs SPRU: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Spruce Power Holding Corporation (SPRU) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SPRU?
On 3 years of weekly data the QQQ/SPRU correlation comes out at 0.17, weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.17). The 5-year figure is 0.30, and annualized covariance runs at 281.6 %².
By 3-year correlation, SPRU places #3199 of the 4755 assets tracked against QQQ. Twelve-month performance is nearly a tie, at +26.3% for QQQ and +27.9% for SPRU. One caveat on sizing: SPRU is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SPRU: side by side
| QQQ (Invesco QQQ Trust) | SPRU (Spruce Power Holding Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +27.9% |
| 5-year return | +95.4% | -96.5% |
| Volatility (ann.) | 19.6% | 84.6% |
| Beta vs S&P 500 | 1.28 | 1.03 |
| Max drawdown (3Y) | -22.8% | -83.1% |
| Market cap | – | – |
| 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 |
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 | SPRU |
|---|---|---|
| 2022 | -32.6% | -72.2% |
| 2023 | +54.9% | -39.9% |
| 2024 | +25.6% | -32.8% |
| 2025 | +20.8% | +71.4% |
| 2026 | +17.7% | -63.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SPRU 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 SPRU?
As of 2026-08-27, the correlation of weekly returns between QQQ and SPRU is 0.17 over 3 years, 0.05 over 1 year and 0.30 over 5 years.
Is SPRU 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?
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-spru.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-spru/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SPRU correlations
