QQQ vs TNC: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Tennant Company (TNC) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TNC?
Over the past 3 years, QQQ and TNC moved with a correlation of 0.34, which is moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.34). Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 212.5 %².
By 3-year correlation, TNC places #1151 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 41.3 points (+26.3% versus -15.0%). Note the risk asymmetry: TNC runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TNC: side by side
| QQQ (Invesco QQQ Trust) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | +26.3% | -15.0% |
| 5-year return | +95.4% | +1.8% |
| Volatility (ann.) | 19.6% | 31.5% |
| Beta vs S&P 500 | 1.28 | 0.90 |
| Max drawdown (3Y) | -22.8% | -49.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 67.3 |
| Dividend yield | 0.44% | 1.74% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | TNC |
|---|---|---|
| 2022 | -32.6% | -22.8% |
| 2023 | +54.9% | +52.6% |
| 2024 | +25.6% | -11.0% |
| 2025 | +20.8% | -8.2% |
| 2026 | +17.7% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TNC good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and TNC?
The QQQ/TNC correlation stands at 0.34 on a 3-year window (1 year: 0.17, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is TNC a good diversifier for QQQ?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 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-tnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-tnc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · TNC correlations
