QQQ vs UNF: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Unifirst Corporation (UNF) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UNF?
Across a 3-year window, the weekly returns of QQQ and UNF correlate at 0.17, weak. The past 12 months show a weaker link (-0.01) than the 3-year average (0.17). Stretching to 5 years gives 0.28, with an annualized covariance of 111.7 %².
By 3-year correlation, UNF places #3210 of the 4755 assets tracked against QQQ. The last year tells two different stories: UNF led by 36.0 percentage points, +26.3% for QQQ against +62.3% for UNF. Note the risk asymmetry: UNF runs 1.7 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 UNF: side by side
| QQQ (Invesco QQQ Trust) | UNF (Unifirst Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +62.3% |
| 5-year return | +95.4% | +28.9% |
| Volatility (ann.) | 19.6% | 33.8% |
| Beta vs S&P 500 | 1.28 | 0.52 |
| Max drawdown (3Y) | -22.8% | -34.6% |
| Market cap | – | $5.2B |
| P/E (trailing) | – | 45.4 |
| Dividend yield | 0.44% | 0.50% |
| 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 | UNF |
|---|---|---|
| 2022 | -32.6% | -7.6% |
| 2023 | +54.9% | -4.6% |
| 2024 | +25.6% | -5.7% |
| 2025 | +20.8% | +13.6% |
| 2026 | +17.7% | +48.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UNF good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and UNF?
The QQQ/UNF correlation stands at 0.17 on a 3-year window (1 year: -0.01, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is UNF a good diversifier for QQQ?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 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-unf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-unf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · UNF correlations
