QQQ vs TIGO: Correlation
How closely do Invesco QQQ Trust (QQQ) and Millicom International Cellular S.A. (TIGO) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TIGO?
On 3 years of weekly data the QQQ/TIGO correlation comes out at 0.03, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.14 versus 0.03 over 3 years. The 5-year figure is 0.21, and annualized covariance runs at 18.5 %².
Among the 4755 assets we track against QQQ, TIGO ranks #4342 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TIGO ahead by 87.7 points (+26.3% versus +114.0%). Risk is not evenly split, since TIGO 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 TIGO: side by side
| QQQ (Invesco QQQ Trust) | TIGO (Millicom International Cellular S.A.) | |
|---|---|---|
| 1-year return | +26.3% | +114.0% |
| 5-year return | +95.4% | +193.9% |
| Volatility (ann.) | 19.6% | 31.5% |
| Beta vs S&P 500 | 1.28 | 0.20 |
| Max drawdown (3Y) | -22.8% | -17.7% |
| Market cap | – | $15.6B |
| P/E (trailing) | – | 23.3 |
| Dividend yield | 0.44% | 3.12% |
| 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 | TIGO |
|---|---|---|
| 2022 | -32.6% | -55.6% |
| 2023 | +54.9% | +42.5% |
| 2024 | +25.6% | +38.9% |
| 2025 | +20.8% | +152.3% |
| 2026 | +17.7% | +76.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TIGO good diversifiers for each other?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and TIGO?
As of 2026-08-27, the correlation of weekly returns between QQQ and TIGO is 0.03 over 3 years, -0.14 over 1 year and 0.21 over 5 years.
Is TIGO a good diversifier for QQQ?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.03 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-tigo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tigo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · TIGO correlations
