QQQ vs TOON: Correlation
Invesco QQQ Trust (QQQ) and Kartoon Studios, Inc. (TOON) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TOON?
Across a 3-year window, the weekly returns of QQQ and TOON correlate at 0.33, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 458.0 %².
Within QQQ's tracked universe of 4755 assets, TOON comes in at #1235 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.7 percentage points (+26.3% for QQQ against -14.4% for TOON). One caveat on sizing: TOON is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TOON: side by side
| QQQ (Invesco QQQ Trust) | TOON (Kartoon Studios, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -14.4% |
| 5-year return | +95.4% | -96.0% |
| Volatility (ann.) | 19.6% | 70.7% |
| Beta vs S&P 500 | 1.28 | 1.54 |
| Max drawdown (3Y) | -22.8% | -73.2% |
| Market cap | – | – |
| P/E (trailing) | – | 8.0 |
| 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 | TOON |
|---|---|---|
| 2022 | -32.6% | -55.7% |
| 2023 | +54.9% | -70.1% |
| 2024 | +25.6% | -57.6% |
| 2025 | +20.8% | +22.0% |
| 2026 | +17.7% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TOON good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and TOON?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.31 over the last year and 0.32 over 5 years.
Is TOON a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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-toon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-toon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · TOON correlations
