QQQ vs STLD: Correlation
Invesco QQQ Trust (QQQ) and Steel Dynamics (STLD) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and STLD?
Across a 3-year window, the weekly returns of QQQ and STLD correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.39 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 261.3 %².
By 3-year correlation, STLD places #721 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months STLD outperformed by 53.5 percentage points (+26.3% for QQQ against +79.8% for STLD). Across three years, the rolling one-year figure varied moderately, from 0.18 to 0.64. One caveat on sizing: STLD is 1.8 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 STLD: side by side
| QQQ (Invesco QQQ Trust) | STLD (Steel Dynamics) | |
|---|---|---|
| 1-year return | +26.3% | +79.8% |
| 5-year return | +95.4% | +262.0% |
| Volatility (ann.) | 19.6% | 34.5% |
| Beta vs S&P 500 | 1.28 | 1.13 |
| Max drawdown (3Y) | -22.8% | -28.7% |
| Market cap | – | $33.8B |
| P/E (trailing) | – | 21.4 |
| Dividend yield | 0.44% | 0.87% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Materials |
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 | STLD |
|---|---|---|
| 2022 | -32.6% | +60.1% |
| 2023 | +54.9% | +22.8% |
| 2024 | +25.6% | -2.0% |
| 2025 | +20.8% | +50.7% |
| 2026 | +17.7% | +39.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and STLD good diversifiers for each other?
Reasonably. At 0.39, QQQ and STLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and STLD?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.27 over the last year and 0.44 over 5 years.
Is STLD a good diversifier for QQQ?
Reasonably. At 0.39, QQQ and STLD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-stld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-stld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · STLD correlations
