QQQ vs TSLX: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Sixth Street Specialty Lending, Inc. (TSLX) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TSLX?
Across a 3-year window, the weekly returns of QQQ and TSLX correlate at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 138.0 %².
By 3-year correlation, TSLX places #1154 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 41.3 percentage points (+26.3% for QQQ against -15.0% for TSLX).
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 TSLX: side by side
| QQQ (Invesco QQQ Trust) | TSLX (Sixth Street Specialty Lending, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -15.0% |
| 5-year return | +95.4% | +35.2% |
| Volatility (ann.) | 19.6% | 20.5% |
| Beta vs S&P 500 | 1.28 | 0.60 |
| Max drawdown (3Y) | -22.8% | -29.0% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 19.9 |
| Dividend yield | 0.44% | 10.04% |
| 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 | TSLX |
|---|---|---|
| 2022 | -32.6% | -16.4% |
| 2023 | +54.9% | +35.3% |
| 2024 | +25.6% | +8.8% |
| 2025 | +20.8% | +11.5% |
| 2026 | +17.7% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TSLX good diversifiers for each other?
Reasonably. At 0.34, QQQ and TSLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and TSLX?
As of 2026-08-27, the correlation of weekly returns between QQQ and TSLX is 0.34 over 3 years, 0.26 over 1 year and 0.41 over 5 years.
Is TSLX a good diversifier for QQQ?
Reasonably. At 0.34, QQQ and TSLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-tslx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-tslx/)
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Related comparisons
Hubs: QQQ correlations · TSLX correlations
