QQQ vs USA: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Liberty All-Star Equity Fund (USA) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and USA?
Across a 3-year window, the weekly returns of QQQ and USA correlate at 0.76, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.76, with an annualized covariance of 225.8 %².
By 3-year correlation, USA places #46 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 24.7 points (+26.3% versus +1.6%).
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 USA: side by side
| QQQ (Invesco QQQ Trust) | USA (Liberty All-Star Equity Fund) | |
|---|---|---|
| 1-year return | +26.3% | +1.6% |
| 5-year return | +95.4% | +18.1% |
| Volatility (ann.) | 19.6% | 15.2% |
| Beta vs S&P 500 | 1.28 | 0.89 |
| Max drawdown (3Y) | -22.8% | -17.7% |
| Market cap | – | – |
| P/E (trailing) | – | 10.7 |
| Dividend yield | 0.44% | 11.19% |
| 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 | USA |
|---|---|---|
| 2022 | -32.6% | -25.2% |
| 2023 | +54.9% | +23.2% |
| 2024 | +25.6% | +20.8% |
| 2025 | +20.8% | +0.1% |
| 2026 | +17.7% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and USA good diversifiers for each other?
Only partially. A correlation of 0.76 means QQQ and USA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QQQ and USA?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.71 over the last year and 0.76 over 5 years.
Is USA a good diversifier for QQQ?
Only partially. A correlation of 0.76 means QQQ and USA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · USA correlations
