QQQ vs SY: Correlation
Invesco QQQ Trust (QQQ) and So-Young International Inc. - American Depository Shares (SY) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and SY?
Over the past 3 years, QQQ and SY moved with a correlation of 0.13, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.13 over 3 years. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 246.8 %².
Within QQQ's tracked universe of 4755 assets, SY comes in at #3590 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 67.3 percentage points (+26.3% for QQQ against -41.0% for SY). Note the risk asymmetry: SY runs 5.1 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 SY: side by side
| QQQ (Invesco QQQ Trust) | SY (So-Young International Inc. - American Depository Shares) | |
|---|---|---|
| 1-year return | +26.3% | -41.0% |
| 5-year return | +95.4% | -54.5% |
| Volatility (ann.) | 19.6% | 99.6% |
| Beta vs S&P 500 | 1.28 | 1.08 |
| Max drawdown (3Y) | -22.8% | -77.5% |
| Market cap | – | $0.2B |
| 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 |
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 | SY |
|---|---|---|
| 2022 | -32.6% | -59.6% |
| 2023 | +54.9% | +0.0% |
| 2024 | +25.6% | -32.1% |
| 2025 | +20.8% | +219.0% |
| 2026 | +17.7% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and SY good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and SY?
As of 2026-08-27, the correlation of weekly returns between QQQ and SY is 0.13 over 3 years, -0.08 over 1 year and 0.16 over 5 years.
Is SY a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 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-sy.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-sy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · SY correlations
