QQQ vs UCAR: Correlation
How closely do Invesco QQQ Trust (QQQ) and U Power Limited - Class A (UCAR) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UCAR?
Across a 3-year window, the weekly returns of QQQ and UCAR correlate at 0.19, weak. Recent behaviour matches the longer record: 0.27 over 1 year against 0.19 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 694.8 %².
By 3-year correlation, UCAR places #2988 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 123.2 percentage points, +26.3% for QQQ against -96.9% for UCAR. One caveat on sizing: UCAR is 9.5 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 UCAR: side by side
| QQQ (Invesco QQQ Trust) | UCAR (U Power Limited - Class A) | |
|---|---|---|
| 1-year return | +26.3% | -96.9% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 186.9% |
| Beta vs S&P 500 | 1.28 | 2.54 |
| Max drawdown (3Y) | -22.8% | -100.0% |
| Market cap | – | – |
| 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 | UCAR |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | -64.0% |
| 2025 | +20.8% | -77.1% |
| 2026 | +17.7% | -95.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UCAR good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and UCAR?
As of 2026-08-27, the correlation of weekly returns between QQQ and UCAR is 0.19 over 3 years, 0.27 over 1 year and n/a over 5 years.
Is UCAR a good diversifier for QQQ?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
A reading of 0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-ucar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-ucar/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · UCAR correlations
