QQQ vs TGT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Target Corporation (TGT) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TGT?
On 3 years of weekly data the QQQ/TGT correlation comes out at 0.18, weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.18). The 5-year figure is 0.35, and annualized covariance runs at 111.0 %².
Among the 4755 assets we track against QQQ, TGT ranks #3099 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TGT ahead by 49.9 points (+26.3% versus +76.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.04 to 0.61. Risk is not evenly split, since TGT carries 1.6 times the volatility of the other side.
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 TGT: side by side
| QQQ (Invesco QQQ Trust) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +76.2% |
| 5-year return | +95.4% | -22.2% |
| Volatility (ann.) | 19.6% | 32.0% |
| Beta vs S&P 500 | 1.28 | 0.62 |
| Max drawdown (3Y) | -22.8% | -49.8% |
| Market cap | – | $75.4B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 0.44% | 2.78% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Consumer Staples |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | TGT |
|---|---|---|
| 2022 | -32.6% | -34.2% |
| 2023 | +54.9% | -1.4% |
| 2024 | +25.6% | -2.3% |
| 2025 | +20.8% | -24.5% |
| 2026 | +17.7% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TGT good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and TGT?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.02 over the last year and 0.35 over 5 years.
Is TGT a good diversifier for QQQ?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
A reading of 0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · TGT correlations
