QQQ vs TMUS: Correlation
How closely do Invesco QQQ Trust (QQQ) and T-Mobile US (TMUS) trade together? Their weekly returns over three years give a correlation of 0.18, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TMUS?
Across a 3-year window, the weekly returns of QQQ and TMUS correlate at 0.18, weak. The link has loosened recently: the 1-year correlation (0.04) runs below the 3-year figure (0.18). Stretching to 5 years gives 0.28, with an annualized covariance of 86.1 %².
Among the 4755 assets we track against QQQ, TMUS ranks #3102 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 54.3 percentage points (+26.3% for QQQ against -28.0% for TMUS). The rolling one-year correlation moved between 0.01 and 0.40 over the past three years, a moderate range.
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 TMUS: side by side
| QQQ (Invesco QQQ Trust) | TMUS (T-Mobile US) | |
|---|---|---|
| 1-year return | +26.3% | -28.0% |
| 5-year return | +95.4% | +34.8% |
| Volatility (ann.) | 19.6% | 24.6% |
| Beta vs S&P 500 | 1.28 | 0.36 |
| Max drawdown (3Y) | -22.8% | -37.1% |
| Market cap | – | $190.7B |
| P/E (trailing) | – | 18.8 |
| Dividend yield | 0.44% | 2.27% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Communication Services |
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 | TMUS |
|---|---|---|
| 2022 | -32.6% | +20.7% |
| 2023 | +54.9% | +15.0% |
| 2024 | +25.6% | +39.7% |
| 2025 | +20.8% | -6.6% |
| 2026 | +17.7% | -11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.86% of QQQ is TMUS itself, so the fund partly moves with the stock by construction.
Are QQQ and TMUS good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and TMUS?
The QQQ/TMUS correlation stands at 0.18 on a 3-year window (1 year: 0.04, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TMUS a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-tmus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tmus/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · TMUS correlations
