QQQ vs UTZ: Correlation
How closely do Invesco QQQ Trust (QQQ) and Utz Brands Inc (UTZ) trade together? Their weekly returns over three years give a correlation of -0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UTZ?
Over the past 3 years, QQQ and UTZ moved with a correlation of -0.04, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.06) sits close to the 3-year figure. Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is -57.0 %².
Among the 4755 assets we track against QQQ, UTZ ranks #4613 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 18.0 points (+26.3% versus +8.3%). Risk is not evenly split, since UTZ carries 3.4 times the volatility of the other side.
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 UTZ: side by side
| QQQ (Invesco QQQ Trust) | UTZ (Utz Brands Inc) | |
|---|---|---|
| 1-year return | +26.3% | +8.3% |
| 5-year return | +95.4% | -16.7% |
| Volatility (ann.) | 19.6% | 65.9% |
| Beta vs S&P 500 | 1.28 | 0.07 |
| Max drawdown (3Y) | -22.8% | -63.8% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 2.62% |
| 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 | UTZ |
|---|---|---|
| 2022 | -32.6% | +0.9% |
| 2023 | +54.9% | +3.9% |
| 2024 | +25.6% | -2.1% |
| 2025 | +20.8% | -32.3% |
| 2026 | +17.7% | +39.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UTZ good diversifiers for each other?
Yes. With a correlation of -0.04, QQQ and UTZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and UTZ?
Using weekly returns as of 2026-08-27: -0.04 over 3 years, with -0.06 over the last year and 0.07 over 5 years.
Is UTZ a good diversifier for QQQ?
Yes. With a correlation of -0.04, QQQ and UTZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.04 mean?
On the −1 to +1 scale, -0.04 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-utz.json
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Related comparisons
Hubs: QQQ correlations · UTZ correlations
