QQQ vs UAA: Correlation
Invesco QQQ Trust (QQQ) and Under Armour, Inc. (UAA) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UAA?
On 3 years of weekly data the QQQ/UAA correlation comes out at 0.20, weak. Little has changed lately, as the 1-year reading of 0.12 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 196.1 %².
Within QQQ's tracked universe of 4755 assets, UAA comes in at #2863 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.7 points (+26.3% versus +0.6%). One caveat on sizing: UAA is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 UAA: side by side
| QQQ (Invesco QQQ Trust) | UAA (Under Armour, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +0.6% |
| 5-year return | +95.4% | -79.0% |
| Volatility (ann.) | 19.6% | 49.2% |
| Beta vs S&P 500 | 1.28 | 0.99 |
| Max drawdown (3Y) | -22.8% | -62.5% |
| Market cap | – | $2.2B |
| 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 |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | UAA |
|---|---|---|
| 2022 | -32.6% | -52.1% |
| 2023 | +54.9% | -13.5% |
| 2024 | +25.6% | -5.8% |
| 2025 | +20.8% | -40.0% |
| 2026 | +17.7% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UAA good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and UAA?
As of 2026-08-27, the correlation of weekly returns between QQQ and UAA is 0.20 over 3 years, 0.12 over 1 year and 0.37 over 5 years.
Is UAA a good diversifier for QQQ?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 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-uaa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-uaa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · UAA correlations
