QQQ vs T: Correlation
Invesco QQQ Trust (QQQ) and AT&T (T) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and T?
On 3 years of weekly data the QQQ/T correlation comes out at -0.05, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.19) than the 3-year average (-0.05). The 5-year figure is 0.07, and annualized covariance runs at -21.9 %².
By 3-year correlation, T places #4650 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 34.7 percentage points (+26.3% for QQQ against -8.4% for T). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.37 to 0.35.
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 T: side by side
| QQQ (Invesco QQQ Trust) | T (AT&T) | |
|---|---|---|
| 1-year return | +26.3% | -8.4% |
| 5-year return | +95.4% | +67.2% |
| Volatility (ann.) | 19.6% | 22.4% |
| Beta vs S&P 500 | 1.28 | 0.05 |
| Max drawdown (3Y) | -22.8% | -28.9% |
| Market cap | – | $174.3B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 0.44% | 4.29% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Communication Services |
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 | T |
|---|---|---|
| 2022 | -32.6% | +6.5% |
| 2023 | +54.9% | -2.7% |
| 2024 | +25.6% | +44.1% |
| 2025 | +20.8% | +14.0% |
| 2026 | +17.7% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and T good diversifiers for each other?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and T?
As of 2026-08-27, the correlation of weekly returns between QQQ and T is -0.05 over 3 years, -0.19 over 1 year and 0.07 over 5 years.
Is T a good diversifier for QQQ?
Yes: at -0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.05 mean?
On the −1 to +1 scale, -0.05 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.
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Related comparisons
Hubs: QQQ correlations · T correlations
