QQQ vs USPH: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and U.S. Physical Therapy, Inc. (USPH) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and USPH?
On 3 years of weekly data the QQQ/USPH correlation comes out at 0.25, weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.25). The 5-year figure is 0.26, and annualized covariance runs at 165.2 %².
By 3-year correlation, USPH places #2188 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 30.4 percentage points, +26.3% for QQQ against -4.1% for USPH. Note the risk asymmetry: USPH 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 USPH: side by side
| QQQ (Invesco QQQ Trust) | USPH (U.S. Physical Therapy, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -4.1% |
| 5-year return | +95.4% | -25.3% |
| Volatility (ann.) | 19.6% | 33.7% |
| Beta vs S&P 500 | 1.28 | 0.84 |
| Max drawdown (3Y) | -22.8% | -45.4% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 465.3 |
| Dividend yield | 0.44% | 2.33% |
| 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 | USPH |
|---|---|---|
| 2022 | -32.6% | -13.7% |
| 2023 | +54.9% | +17.0% |
| 2024 | +25.6% | -3.0% |
| 2025 | +20.8% | -9.9% |
| 2026 | +17.7% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and USPH good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and USPH?
As of 2026-08-27, the correlation of weekly returns between QQQ and USPH is 0.25 over 3 years, -0.07 over 1 year and 0.26 over 5 years.
Is USPH a good diversifier for QQQ?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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-usph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-usph/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · USPH correlations
