QQQ vs VCV: Correlation
How closely do Invesco QQQ Trust (QQQ) and Invesco California Value Municipal Income Trust (VCV) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VCV?
On 3 years of weekly data the QQQ/VCV correlation comes out at 0.19, weak. The past 12 months show a tighter link (0.35) than the 3-year average (0.19). The 5-year figure is 0.33, and annualized covariance runs at 50.9 %².
By 3-year correlation, VCV places #2991 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 15.8 points (+26.3% versus +10.5%).
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 VCV: side by side
| QQQ (Invesco QQQ Trust) | VCV (Invesco California Value Municipal Income Trust) | |
|---|---|---|
| 1-year return | +26.3% | +10.5% |
| 5-year return | +95.4% | -0.3% |
| Volatility (ann.) | 19.6% | 13.6% |
| Beta vs S&P 500 | 1.28 | 0.24 |
| Max drawdown (3Y) | -22.8% | -13.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 40.4 |
| Dividend yield | 0.44% | 7.38% |
| 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 | VCV |
|---|---|---|
| 2022 | -32.6% | -28.4% |
| 2023 | +54.9% | +7.9% |
| 2024 | +25.6% | +18.7% |
| 2025 | +20.8% | +9.5% |
| 2026 | +17.7% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VCV good diversifiers for each other?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and VCV?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.35 over the last year and 0.33 over 5 years.
Is VCV a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.19 means the two rarely move for the same reasons.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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-vcv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-vcv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · VCV correlations
