QQQ vs TONX: Correlation
How closely do Invesco QQQ Trust (QQQ) and TON Strategy Company (TONX) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TONX?
Over the past 3 years, QQQ and TONX moved with a correlation of 0.13, which is weak. The link has tightened recently: the 1-year correlation (0.35) runs above the 3-year figure (0.13). Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 448.2 %².
Within QQQ's tracked universe of 4755 assets, TONX comes in at #3594 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 103.5 points (+26.3% versus -77.2%). Risk is not evenly split, since TONX carries 9.3 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 TONX: side by side
| QQQ (Invesco QQQ Trust) | TONX (TON Strategy Company) | |
|---|---|---|
| 1-year return | +26.3% | -77.2% |
| 5-year return | +95.4% | -100.0% |
| Volatility (ann.) | 19.6% | 182.6% |
| Beta vs S&P 500 | 1.28 | 1.57 |
| Max drawdown (3Y) | -22.8% | -99.7% |
| Market cap | – | $0.2B |
| 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 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 | TONX |
|---|---|---|
| 2022 | -32.6% | -86.8% |
| 2023 | +54.9% | -97.4% |
| 2024 | +25.6% | -81.0% |
| 2025 | +20.8% | -69.6% |
| 2026 | +17.7% | +71.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TONX good diversifiers for each other?
Yes. With a correlation of 0.13, QQQ and TONX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and TONX?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.35 over the last year and 0.13 over 5 years.
Is TONX a good diversifier for QQQ?
Yes. With a correlation of 0.13, QQQ and TONX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
A reading of 0.13 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-tonx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tonx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · TONX correlations
