QQQ vs TPC: Correlation
Invesco QQQ Trust (QQQ) and Tutor Perini Corporation (TPC) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TPC?
On 3 years of weekly data the QQQ/TPC correlation comes out at 0.32, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.32 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 384.6 %².
Within QQQ's tracked universe of 4755 assets, TPC comes in at #1346 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TPC outperformed by 30.6 percentage points (+26.3% for QQQ against +56.9% for TPC). Note the risk asymmetry: TPC runs 3.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TPC: side by side
| QQQ (Invesco QQQ Trust) | TPC (Tutor Perini Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +56.9% |
| 5-year return | +95.4% | +541.7% |
| Volatility (ann.) | 19.6% | 62.0% |
| Beta vs S&P 500 | 1.28 | 1.63 |
| Max drawdown (3Y) | -22.8% | -40.9% |
| Market cap | – | $4.8B |
| P/E (trailing) | – | 39.6 |
| Dividend yield | 0.44% | 0.20% |
| 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 | TPC |
|---|---|---|
| 2022 | -32.6% | -39.0% |
| 2023 | +54.9% | +20.5% |
| 2024 | +25.6% | +165.9% |
| 2025 | +20.8% | +177.2% |
| 2026 | +17.7% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TPC good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and TPC?
As of 2026-08-27, the correlation of weekly returns between QQQ and TPC is 0.32 over 3 years, 0.18 over 1 year and 0.28 over 5 years.
Is TPC a good diversifier for QQQ?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-tpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-tpc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · TPC correlations
