QQQ vs TOYO: Correlation
Invesco QQQ Trust (QQQ) and TOYO Co., Ltd (TOYO) show a near-zero relationship: their 3-year correlation of weekly returns is -0.01.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TOYO?
Over the past 3 years, QQQ and TOYO moved with a correlation of -0.01, which is near zero, meaning they move largely independently. The past 12 months show a tighter link (0.30) than the 3-year average (-0.01). Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -27.1 %².
Within QQQ's tracked universe of 4755 assets, TOYO comes in at #4533 by 3-year correlation. The last year tells two different stories: QQQ led by 39.9 percentage points, +26.3% for QQQ against -13.6% for TOYO. One caveat on sizing: TOYO is 5.5 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 TOYO: side by side
| QQQ (Invesco QQQ Trust) | TOYO (TOYO Co., Ltd) | |
|---|---|---|
| 1-year return | +26.3% | -13.6% |
| 5-year return | +95.4% | -54.4% |
| Volatility (ann.) | 19.6% | 107.7% |
| Beta vs S&P 500 | 1.28 | 0.34 |
| Max drawdown (3Y) | -22.8% | -86.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 2.1 |
| 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 | TOYO |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | +8.0% |
| 2024 | +25.6% | -69.3% |
| 2025 | +20.8% | +73.4% |
| 2026 | +17.7% | -23.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TOYO good diversifiers for each other?
Yes: at -0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and TOYO?
Using weekly returns as of 2026-08-27: -0.01 over 3 years, with 0.30 over the last year and -0.01 over 5 years.
Is TOYO a good diversifier for QQQ?
Yes: at -0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.01 mean?
A reading of -0.01 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-toyo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-toyo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · TOYO correlations
