QQQ vs TOWN: Correlation
Invesco QQQ Trust (QQQ) and Towne Bank (TOWN) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TOWN?
Over the past 3 years, QQQ and TOWN moved with a correlation of 0.28, which is weak. The past 12 months show a weaker link (0.01) than the 3-year average (0.28). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 138.4 %².
By 3-year correlation, TOWN places #1782 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 19.6 points (+26.3% versus +6.7%).
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 TOWN: side by side
| QQQ (Invesco QQQ Trust) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +26.3% | +6.7% |
| 5-year return | +95.4% | +47.6% |
| Volatility (ann.) | 19.6% | 25.0% |
| Beta vs S&P 500 | 1.28 | 0.77 |
| Max drawdown (3Y) | -22.8% | -18.4% |
| Market cap | – | $3.5B |
| P/E (trailing) | – | 18.0 |
| Dividend yield | 0.44% | 2.90% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | TOWN |
|---|---|---|
| 2022 | -32.6% | +0.7% |
| 2023 | +54.9% | +0.3% |
| 2024 | +25.6% | +18.3% |
| 2025 | +20.8% | +1.0% |
| 2026 | +17.7% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TOWN good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and TOWN?
As of 2026-08-27, the correlation of weekly returns between QQQ and TOWN is 0.28 over 3 years, 0.01 over 1 year and 0.30 over 5 years.
Is TOWN a good diversifier for QQQ?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: QQQ correlations · TOWN correlations
