QQQ vs TPB: Correlation
How closely do Invesco QQQ Trust (QQQ) and Turning Point Brands, Inc. (TPB) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TPB?
On 3 years of weekly data the QQQ/TPB correlation comes out at 0.19, weak. Recent behaviour matches the longer record: 0.13 over 1 year against 0.19 over 3. The 5-year figure is 0.19, and annualized covariance runs at 165.1 %².
Among the 4755 assets we track against QQQ, TPB ranks #2983 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.5 percentage points (+26.3% for QQQ against -14.2% for TPB). Risk is not evenly split, since TPB carries 2.3 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 TPB: side by side
| QQQ (Invesco QQQ Trust) | TPB (Turning Point Brands, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -14.2% |
| 5-year return | +95.4% | +74.4% |
| Volatility (ann.) | 19.6% | 44.7% |
| Beta vs S&P 500 | 1.28 | 0.76 |
| Max drawdown (3Y) | -22.8% | -50.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | – | 38.3 |
| Dividend yield | 0.44% | 0.35% |
| 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 | TPB |
|---|---|---|
| 2022 | -32.6% | -42.2% |
| 2023 | +54.9% | +23.1% |
| 2024 | +25.6% | +130.1% |
| 2025 | +20.8% | +81.0% |
| 2026 | +17.7% | -22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TPB good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and TPB?
The QQQ/TPB correlation stands at 0.19 on a 3-year window (1 year: 0.13, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is TPB a good diversifier for QQQ?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · TPB correlations
