QQQ vs VLO: Correlation
Invesco QQQ Trust (QQQ) and Valero Energy (VLO) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VLO?
Over the past 3 years, QQQ and VLO moved with a correlation of 0.13, which is weak. The past 12 months show a weaker link (-0.36) than the 3-year average (0.13). Over 5 years the correlation is 0.12, and the annualized covariance of weekly returns is 85.5 %².
Within QQQ's tracked universe of 4755 assets, VLO comes in at #3601 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VLO ahead by 108.5 points (+26.3% versus +134.8%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.40 to 0.58. Risk is not evenly split, since VLO carries 1.8 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 VLO: side by side
| QQQ (Invesco QQQ Trust) | VLO (Valero Energy) | |
|---|---|---|
| 1-year return | +26.3% | +134.8% |
| 5-year return | +95.4% | +512.9% |
| Volatility (ann.) | 19.6% | 34.8% |
| Beta vs S&P 500 | 1.28 | 0.55 |
| Max drawdown (3Y) | -22.8% | -41.2% |
| Market cap | – | $99.8B |
| P/E (trailing) | – | 14.5 |
| Dividend yield | 0.44% | 1.34% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Energy |
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 | VLO |
|---|---|---|
| 2022 | -32.6% | +75.0% |
| 2023 | +54.9% | +5.9% |
| 2024 | +25.6% | -3.0% |
| 2025 | +20.8% | +37.0% |
| 2026 | +17.7% | +116.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VLO good diversifiers for each other?
Yes. With a correlation of 0.13, QQQ and VLO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and VLO?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.36 over the last year and 0.12 over 5 years.
Is VLO a good diversifier for QQQ?
Yes. With a correlation of 0.13, QQQ and VLO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: QQQ correlations · VLO correlations
