QQQ vs UA: Correlation
Invesco QQQ Trust (QQQ) and Under Armour, Inc. (UA) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UA?
On 3 years of weekly data the QQQ/UA correlation comes out at 0.22, weak. Recent behaviour matches the longer record: 0.13 over 1 year against 0.22 over 3. The 5-year figure is 0.38, and annualized covariance runs at 196.5 %².
Within QQQ's tracked universe of 4755 assets, UA comes in at #2601 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 26.1 points (+26.3% versus +0.2%). Risk is not evenly split, since UA carries 2.4 times the volatility of the other side.
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 UA: side by side
| QQQ (Invesco QQQ Trust) | UA (Under Armour, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +0.2% |
| 5-year return | +95.4% | -76.2% |
| Volatility (ann.) | 19.6% | 46.7% |
| Beta vs S&P 500 | 1.28 | 0.99 |
| Max drawdown (3Y) | -22.8% | -60.2% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| 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 | UA |
|---|---|---|
| 2022 | -32.6% | -50.6% |
| 2023 | +54.9% | -6.4% |
| 2024 | +25.6% | -10.7% |
| 2025 | +20.8% | -35.7% |
| 2026 | +17.7% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UA good diversifiers for each other?
Reasonably. At 0.22, QQQ and UA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and UA?
As of 2026-08-27, the correlation of weekly returns between QQQ and UA is 0.22 over 3 years, 0.13 over 1 year and 0.38 over 5 years.
Is UA a good diversifier for QQQ?
Reasonably. At 0.22, QQQ and UA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
A reading of 0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · UA correlations
