QQQ vs TRNO: Correlation
Invesco QQQ Trust (QQQ) and Terreno Realty Corporation (TRNO) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TRNO?
Across a 3-year window, the weekly returns of QQQ and TRNO correlate at 0.27, weak. The link has loosened recently: the 1-year correlation (-0.04) runs below the 3-year figure (0.27). Stretching to 5 years gives 0.45, with an annualized covariance of 129.2 %².
Among the 4755 assets we track against QQQ, TRNO ranks #1920 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +20.1%, a 6.2-point spread.
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 TRNO: side by side
| QQQ (Invesco QQQ Trust) | TRNO (Terreno Realty Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +20.1% |
| 5-year return | +95.4% | +15.7% |
| Volatility (ann.) | 19.6% | 24.4% |
| Beta vs S&P 500 | 1.28 | 0.66 |
| Max drawdown (3Y) | -22.8% | -26.3% |
| Market cap | – | $7.3B |
| P/E (trailing) | – | 18.1 |
| Dividend yield | 0.44% | 3.08% |
| 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 | TRNO |
|---|---|---|
| 2022 | -32.6% | -31.6% |
| 2023 | +54.9% | +13.4% |
| 2024 | +25.6% | -2.8% |
| 2025 | +20.8% | +2.7% |
| 2026 | +17.7% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TRNO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and TRNO?
The QQQ/TRNO correlation stands at 0.27 on a 3-year window (1 year: -0.04, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is TRNO a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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 · TRNO correlations
