QQQ vs TWN: Correlation
How closely do Invesco QQQ Trust (QQQ) and Taiwan Fund, Inc. (The) (TWN) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and TWN?
Across a 3-year window, the weekly returns of QQQ and TWN correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 381.0 %².
Within QQQ's tracked universe of 4755 assets, TWN comes in at #75 by 3-year correlation. The last year tells two different stories: TWN led by 101.5 percentage points, +26.3% for QQQ against +127.8% for TWN.
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 TWN: side by side
| QQQ (Invesco QQQ Trust) | TWN (Taiwan Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +26.3% | +127.8% |
| 5-year return | +95.4% | +320.4% |
| Volatility (ann.) | 19.6% | 28.9% |
| Beta vs S&P 500 | 1.28 | 1.26 |
| Max drawdown (3Y) | -22.8% | -30.0% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 2.6 |
| Dividend yield | 0.44% | 6.18% |
| 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 | TWN |
|---|---|---|
| 2022 | -32.6% | -38.5% |
| 2023 | +54.9% | +51.7% |
| 2024 | +25.6% | +32.8% |
| 2025 | +20.8% | +54.1% |
| 2026 | +17.7% | +92.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and TWN good diversifiers for each other?
Only partially. A correlation of 0.68 means QQQ and TWN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QQQ and TWN?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.61 over the last year and 0.61 over 5 years.
Is TWN a good diversifier for QQQ?
Only partially. A correlation of 0.68 means QQQ and TWN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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-twn.json
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Related comparisons
Hubs: QQQ correlations · TWN correlations
