QQQ vs TLF: Correlation
Invesco QQQ Trust (QQQ) and Tandy Leather Factory, Inc. (TLF) show a weak relationship: their 3-year correlation of weekly returns is 0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TLF?
Across a 3-year window, the weekly returns of QQQ and TLF correlate at 0.14, weak. Lately the two have moved closer together, with the 1-year correlation at 0.26 versus 0.14 over 3 years. Stretching to 5 years gives 0.15, with an annualized covariance of 70.1 %².
By 3-year correlation, TLF places #3487 of the 4755 assets tracked against QQQ. Over the last 12 months QQQ came out ahead by 14.3 percentage points (+26.3% against +12.0%).
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 TLF: side by side
| QQQ (Invesco QQQ Trust) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +12.0% |
| 5-year return | +95.4% | +11.5% |
| Volatility (ann.) | 19.6% | 26.5% |
| Beta vs S&P 500 | 1.28 | 0.23 |
| Max drawdown (3Y) | -22.8% | -34.9% |
| Market cap | – | – |
| 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 | TLF |
|---|---|---|
| 2022 | -32.6% | -17.5% |
| 2023 | +54.9% | +0.2% |
| 2024 | +25.6% | +12.4% |
| 2025 | +20.8% | -20.9% |
| 2026 | +17.7% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TLF good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and TLF?
As of 2026-08-27, the correlation of weekly returns between QQQ and TLF is 0.14 over 3 years, 0.26 over 1 year and 0.15 over 5 years.
Is TLF a good diversifier for QQQ?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 mean?
A reading of 0.14 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · TLF correlations
