QQQ vs UCIB: Correlation
How closely do Invesco QQQ Trust (QQQ) and ETRACS UBS Bloomberg Constant Maturity Commodity Index (UCIB) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UCIB?
Across a 3-year window, the weekly returns of QQQ and UCIB correlate at 0.22, weak. Little has changed lately, as the 1-year reading of 0.16 lands near the 3-year figure. Stretching to 5 years gives 0.17, with an annualized covariance of 74.7 %².
Within QQQ's tracked universe of 4755 assets, UCIB comes in at #2603 by 3-year correlation. The trailing year gives UCIB the advantage: +26.3% versus +38.5%, a 12.2-point spread.
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 UCIB: side by side
| QQQ (Invesco QQQ Trust) | UCIB (ETRACS UBS Bloomberg Constant Maturity Commodity Index) | |
|---|---|---|
| 1-year return | +26.3% | +38.5% |
| 5-year return | +95.4% | +88.1% |
| Volatility (ann.) | 19.6% | 17.7% |
| Beta vs S&P 500 | 1.28 | 0.28 |
| Max drawdown (3Y) | -22.8% | -22.7% |
| Dividend yield | 0.44% | – |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | UCIB |
|---|---|---|
| 2022 | -32.6% | +18.2% |
| 2023 | +54.9% | -2.3% |
| 2024 | +25.6% | +6.6% |
| 2025 | +20.8% | +9.0% |
| 2026 | +17.7% | +32.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UCIB good diversifiers for each other?
Reasonably. At 0.22, QQQ and UCIB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and UCIB?
The QQQ/UCIB correlation stands at 0.22 on a 3-year window (1 year: 0.16, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is UCIB a good diversifier for QQQ?
Reasonably. At 0.22, QQQ and UCIB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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-ucib.json
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[](https://www.pairbook.io/pair/qqq-vs-ucib/)
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Related comparisons
Hubs: QQQ correlations · UCIB correlations
