QQQ vs TFII: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and TFI International Inc. (TFII) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TFII?
Over the past 3 years, QQQ and TFII moved with a correlation of 0.36, which is moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.36). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 244.8 %².
Among the 4755 assets we track against QQQ, TFII ranks #971 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TFII outperformed by 19.6 percentage points (+26.3% for QQQ against +45.9% for TFII). Note the risk asymmetry: TFII runs 1.8 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 TFII: side by side
| QQQ (Invesco QQQ Trust) | TFII (TFI International Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +45.9% |
| 5-year return | +95.4% | +27.7% |
| Volatility (ann.) | 19.6% | 35.1% |
| Beta vs S&P 500 | 1.28 | 1.02 |
| Max drawdown (3Y) | -22.8% | -53.8% |
| Market cap | – | $11.2B |
| P/E (trailing) | – | 33.2 |
| Dividend yield | 0.44% | 1.38% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | TFII |
|---|---|---|
| 2022 | -32.6% | -9.5% |
| 2023 | +54.9% | +37.3% |
| 2024 | +25.6% | +0.5% |
| 2025 | +20.8% | -22.7% |
| 2026 | +17.7% | +32.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TFII good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and TFII?
The QQQ/TFII correlation stands at 0.36 on a 3-year window (1 year: 0.19, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is TFII a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-tfii.json
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[](https://www.pairbook.io/pair/qqq-vs-tfii/)
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Related comparisons
Hubs: QQQ correlations · TFII correlations
