QQQ vs STE: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Steris (STE) 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 STE?
On 3 years of weekly data the QQQ/STE correlation comes out at 0.17, weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.17). The 5-year figure is 0.39, and annualized covariance runs at 73.2 %².
Among the 4755 assets we track against QQQ, STE ranks #3200 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 32.0 percentage points (+26.3% for QQQ against -5.7% for STE). The relationship is regime-dependent: the rolling one-year correlation swung between -0.06 and 0.60 over the past three years, so this pair behaves very differently depending on the market environment.
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 STE: side by side
| QQQ (Invesco QQQ Trust) | STE (Steris) | |
|---|---|---|
| 1-year return | +26.3% | -5.7% |
| 5-year return | +95.4% | +13.6% |
| Volatility (ann.) | 19.6% | 22.3% |
| Beta vs S&P 500 | 1.28 | 0.43 |
| Max drawdown (3Y) | -22.8% | -25.4% |
| Market cap | – | $22.7B |
| P/E (trailing) | – | 28.5 |
| Dividend yield | 0.44% | 1.06% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Health Care |
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 | STE |
|---|---|---|
| 2022 | -32.6% | -23.4% |
| 2023 | +54.9% | +20.2% |
| 2024 | +25.6% | -5.6% |
| 2025 | +20.8% | +24.3% |
| 2026 | +17.7% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and STE good diversifiers for each other?
Yes. With a correlation of 0.17, QQQ and STE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and STE?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with -0.07 over the last year and 0.39 over 5 years.
Is STE a good diversifier for QQQ?
Yes. With a correlation of 0.17, QQQ and STE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-ste.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-ste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · STE correlations
