QQQ vs ULBI: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Ultralife Corporation (ULBI) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ULBI?
Over the past 3 years, QQQ and ULBI moved with a correlation of 0.39, which is moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.39 over 3. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 451.7 %².
Among the 4755 assets we track against QQQ, ULBI ranks #729 by 3-year correlation. The last year tells two different stories: QQQ led by 32.0 percentage points, +26.3% for QQQ against -5.7% for ULBI. Note the risk asymmetry: ULBI runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ULBI: side by side
| QQQ (Invesco QQQ Trust) | ULBI (Ultralife Corporation) | |
|---|---|---|
| 1-year return | +26.3% | -5.7% |
| 5-year return | +95.4% | -19.1% |
| Volatility (ann.) | 19.6% | 59.1% |
| Beta vs S&P 500 | 1.28 | 1.74 |
| Max drawdown (3Y) | -22.8% | -68.8% |
| Market cap | – | $0.1B |
| 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 | ULBI |
|---|---|---|
| 2022 | -32.6% | -36.1% |
| 2023 | +54.9% | +76.7% |
| 2024 | +25.6% | +9.2% |
| 2025 | +20.8% | -23.2% |
| 2026 | +17.7% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ULBI good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and ULBI?
As of 2026-08-27, the correlation of weekly returns between QQQ and ULBI is 0.39 over 3 years, 0.34 over 1 year and 0.27 over 5 years.
Is ULBI a good diversifier for QQQ?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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-ulbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-ulbi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · ULBI correlations
