QQQ vs TT: Correlation
How closely do Invesco QQQ Trust (QQQ) and Trane Technologies (TT) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TT?
Across a 3-year window, the weekly returns of QQQ and TT correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.58, with an annualized covariance of 303.4 %².
By 3-year correlation, TT places #185 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 18.5 points (+26.3% versus +7.8%). The rolling one-year correlation moved between 0.24 and 0.71 over the past three years, a moderate range.
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 TT: side by side
| QQQ (Invesco QQQ Trust) | TT (Trane Technologies) | |
|---|---|---|
| 1-year return | +26.3% | +7.8% |
| 5-year return | +95.4% | +141.4% |
| Volatility (ann.) | 19.6% | 27.8% |
| Beta vs S&P 500 | 1.28 | 1.19 |
| Max drawdown (3Y) | -22.8% | -24.4% |
| Market cap | – | $100.0B |
| P/E (trailing) | – | 33.8 |
| Dividend yield | 0.44% | 0.86% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Industrials |
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 | TT |
|---|---|---|
| 2022 | -32.6% | -15.3% |
| 2023 | +54.9% | +47.4% |
| 2024 | +25.6% | +53.0% |
| 2025 | +20.8% | +6.1% |
| 2026 | +17.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TT good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between QQQ and TT?
The QQQ/TT correlation stands at 0.56 on a 3-year window (1 year: 0.29, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is TT a good diversifier for QQQ?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 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-tt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-tt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · TT correlations
