QQQ vs TBI: Correlation
How closely do Invesco QQQ Trust (QQQ) and TrueBlue, Inc. (TBI) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TBI?
Over the past 3 years, QQQ and TBI moved with a correlation of 0.28, which is weak. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 360.2 %².
Among the 4755 assets we track against QQQ, TBI ranks #1778 by 3-year correlation. The last year tells two different stories: TBI led by 49.3 percentage points, +26.3% for QQQ against +75.6% for TBI. One caveat on sizing: TBI is 3.3 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 TBI: side by side
| QQQ (Invesco QQQ Trust) | TBI (TrueBlue, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +75.6% |
| 5-year return | +95.4% | -60.9% |
| Volatility (ann.) | 19.6% | 65.3% |
| Beta vs S&P 500 | 1.28 | 1.45 |
| Max drawdown (3Y) | -22.8% | -79.2% |
| Market cap | – | $0.3B |
| 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 | TBI |
|---|---|---|
| 2022 | -32.6% | -29.2% |
| 2023 | +54.9% | -21.7% |
| 2024 | +25.6% | -45.2% |
| 2025 | +20.8% | -45.8% |
| 2026 | +17.7% | +134.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TBI good diversifiers for each other?
Reasonably. At 0.28, QQQ and TBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and TBI?
As of 2026-08-27, the correlation of weekly returns between QQQ and TBI is 0.28 over 3 years, 0.32 over 1 year and 0.30 over 5 years.
Is TBI a good diversifier for QQQ?
Reasonably. At 0.28, QQQ and TBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 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-tbi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-tbi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · TBI correlations
