QQQ vs UCTT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Ultra Clean Holdings, Inc. (UCTT) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UCTT?
Across a 3-year window, the weekly returns of QQQ and UCTT correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.57 over 3 years. Stretching to 5 years gives 0.61, with an annualized covariance of 701.8 %².
By 3-year correlation, UCTT places #172 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with UCTT ahead by 185.3 points (+26.3% versus +211.6%). One caveat on sizing: UCTT is 3.2 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 UCTT: side by side
| QQQ (Invesco QQQ Trust) | UCTT (Ultra Clean Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +211.6% |
| 5-year return | +95.4% | +57.9% |
| Volatility (ann.) | 19.6% | 62.8% |
| Beta vs S&P 500 | 1.28 | 2.28 |
| Max drawdown (3Y) | -22.8% | -68.2% |
| Market cap | – | $3.4B |
| 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 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 | UCTT |
|---|---|---|
| 2022 | -32.6% | -42.2% |
| 2023 | +54.9% | +3.0% |
| 2024 | +25.6% | +5.3% |
| 2025 | +20.8% | -29.5% |
| 2026 | +17.7% | +195.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UCTT good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between QQQ and UCTT?
The QQQ/UCTT correlation stands at 0.57 on a 3-year window (1 year: 0.43, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is UCTT a good diversifier for QQQ?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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-uctt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-uctt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · UCTT correlations
