QQQ vs TSI: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and TCW Strategic Income Fund, Inc. (TSI) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TSI?
Across a 3-year window, the weekly returns of QQQ and TSI correlate at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.39). Stretching to 5 years gives 0.42, with an annualized covariance of 53.2 %².
Within QQQ's tracked universe of 4755 assets, TSI comes in at #728 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 29.2 percentage points (+26.3% for QQQ against -2.9% for TSI). Note the risk asymmetry: QQQ runs 2.8 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 TSI: side by side
| QQQ (Invesco QQQ Trust) | TSI (TCW Strategic Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -2.9% |
| 5-year return | +95.4% | +12.9% |
| Volatility (ann.) | 19.6% | 6.9% |
| Beta vs S&P 500 | 1.28 | 0.21 |
| Max drawdown (3Y) | -22.8% | -8.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 10.7 |
| Dividend yield | 0.44% | 5.91% |
| 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 | TSI |
|---|---|---|
| 2022 | -32.6% | -12.8% |
| 2023 | +54.9% | +7.1% |
| 2024 | +25.6% | +13.5% |
| 2025 | +20.8% | +9.7% |
| 2026 | +17.7% | -6.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TSI good diversifiers for each other?
Reasonably. At 0.39, QQQ and TSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and TSI?
The QQQ/TSI correlation stands at 0.39 on a 3-year window (1 year: 0.25, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is TSI a good diversifier for QQQ?
Reasonably. At 0.39, QQQ and TSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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
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Related comparisons
Hubs: QQQ correlations · TSI correlations
