QQQ vs UPS: Correlation
How closely do Invesco QQQ Trust (QQQ) and United Parcel Service (UPS) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UPS?
Across a 3-year window, the weekly returns of QQQ and UPS correlate at 0.28, weak. The past 12 months show a weaker link (0.09) than the 3-year average (0.28). Stretching to 5 years gives 0.43, with an annualized covariance of 162.8 %².
By 3-year correlation, UPS places #1787 of the 4755 assets tracked against QQQ. Neither side won the trailing year by much: +26.3% against +28.2%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.07 and 0.69 over the past three years, so this pair behaves very differently depending on the market environment.
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 UPS: side by side
| QQQ (Invesco QQQ Trust) | UPS (United Parcel Service) | |
|---|---|---|
| 1-year return | +26.3% | +28.2% |
| 5-year return | +95.4% | -31.0% |
| Volatility (ann.) | 19.6% | 29.4% |
| Beta vs S&P 500 | 1.28 | 0.81 |
| Max drawdown (3Y) | -22.8% | -46.5% |
| Market cap | – | $89.9B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 0.44% | 6.21% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Industrials |
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 | UPS |
|---|---|---|
| 2022 | -32.6% | -16.2% |
| 2023 | +54.9% | -6.0% |
| 2024 | +25.6% | -15.9% |
| 2025 | +20.8% | -15.9% |
| 2026 | +17.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UPS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and UPS?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.09 over the last year and 0.43 over 5 years.
Is UPS a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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-ups.json
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Related comparisons
Hubs: QQQ correlations · UPS correlations
