QQQ vs WAB: Correlation
Invesco QQQ Trust (QQQ) and Wabtec (WAB) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WAB?
Over the past 3 years, QQQ and WAB moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 239.9 %².
Within QQQ's tracked universe of 4755 assets, WAB comes in at #336 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAB outperformed by 26.6 percentage points (+26.3% for QQQ against +52.9% for WAB). This link changes with the market regime, having swung between 0.13 and 0.77 on a rolling one-year basis.
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 WAB: side by side
| QQQ (Invesco QQQ Trust) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +26.3% | +52.9% |
| 5-year return | +95.4% | +241.0% |
| Volatility (ann.) | 19.6% | 25.3% |
| Beta vs S&P 500 | 1.28 | 0.99 |
| Max drawdown (3Y) | -22.8% | -23.6% |
| Market cap | – | $50.2B |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.44% | 0.37% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Industrials |
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 | WAB |
|---|---|---|
| 2022 | -32.6% | +9.1% |
| 2023 | +54.9% | +28.0% |
| 2024 | +25.6% | +50.1% |
| 2025 | +20.8% | +13.2% |
| 2026 | +17.7% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WAB good diversifiers for each other?
Reasonably. At 0.48, QQQ and WAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and WAB?
The QQQ/WAB correlation stands at 0.48 on a 3-year window (1 year: 0.15, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is WAB a good diversifier for QQQ?
Reasonably. At 0.48, QQQ and WAB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · WAB correlations
