QQQ vs THO: Correlation
Invesco QQQ Trust (QQQ) and Thor Industries, Inc. (THO) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and THO?
On 3 years of weekly data the QQQ/THO correlation comes out at 0.33, moderate. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.33). The 5-year figure is 0.41, and annualized covariance runs at 239.8 %².
Within QQQ's tracked universe of 4755 assets, THO comes in at #1233 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 55.5 percentage points (+26.3% for QQQ against -29.2% for THO). One caveat on sizing: THO is 1.9 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 THO: side by side
| QQQ (Invesco QQQ Trust) | THO (Thor Industries, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -29.2% |
| 5-year return | +95.4% | -26.9% |
| Volatility (ann.) | 19.6% | 37.1% |
| Beta vs S&P 500 | 1.28 | 1.19 |
| Max drawdown (3Y) | -22.8% | -48.4% |
| Market cap | – | $4.0B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 0.44% | 2.65% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | THO |
|---|---|---|
| 2022 | -32.6% | -25.6% |
| 2023 | +54.9% | +59.8% |
| 2024 | +25.6% | -17.9% |
| 2025 | +20.8% | +9.7% |
| 2026 | +17.7% | -24.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and THO good diversifiers for each other?
Reasonably. At 0.33, QQQ and THO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and THO?
As of 2026-08-27, the correlation of weekly returns between QQQ and THO is 0.33 over 3 years, 0.07 over 1 year and 0.41 over 5 years.
Is THO a good diversifier for QQQ?
Reasonably. At 0.33, QQQ and THO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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-tho.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-tho/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · THO correlations
