QQQ vs VXZ: Correlation
Invesco QQQ Trust (QQQ) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VXZ?
Over the past 3 years, QQQ and VXZ moved with a correlation of -0.65, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.54 versus -0.65 over 3 years. Over 5 years the correlation is -0.63, and the annualized covariance of weekly returns is -327.2 %².
VXZ is close to the least connected end of QQQ's tracked universe, ranking #4753 of 4755. The last year tells two different stories: QQQ led by 42.4 percentage points, +26.3% for QQQ against -16.1% for VXZ.
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 VXZ: side by side
| QQQ (Invesco QQQ Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.3% | -16.1% |
| 5-year return | +95.4% | -53.1% |
| Volatility (ann.) | 19.6% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -22.8% | -36.4% |
| Dividend yield | 0.44% | – |
| 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 | VXZ |
|---|---|---|
| 2022 | -32.6% | +0.5% |
| 2023 | +54.9% | -44.0% |
| 2024 | +25.6% | -12.7% |
| 2025 | +20.8% | +5.7% |
| 2026 | +17.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.65 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and VXZ?
Using weekly returns as of 2026-08-27: -0.65 over 3 years, with -0.54 over the last year and -0.63 over 5 years.
Is VXZ a good diversifier for QQQ?
By historical standards, yes. A correlation of -0.65 means the two rarely move for the same reasons.
What does a correlation of -0.65 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · VXZ correlations
