QQQ vs WBD: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Warner Bros. Discovery (WBD) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WBD?
On 3 years of weekly data the QQQ/WBD correlation comes out at 0.23, weak. Little has changed lately, as the 1-year reading of 0.15 lands near the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 245.0 %².
By 3-year correlation, WBD places #2456 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with WBD ahead by 111.4 points (+26.3% versus +137.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.04 to 0.48. Risk is not evenly split, since WBD carries 2.8 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 WBD: side by side
| QQQ (Invesco QQQ Trust) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | +26.3% | +137.7% |
| 5-year return | +95.4% | +3.7% |
| Volatility (ann.) | 19.6% | 54.7% |
| Beta vs S&P 500 | 1.28 | 1.19 |
| Max drawdown (3Y) | -22.8% | -48.9% |
| Market cap | – | $72.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Communication Services |
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 | WBD |
|---|---|---|
| 2022 | -32.6% | -59.7% |
| 2023 | +54.9% | +20.0% |
| 2024 | +25.6% | -7.1% |
| 2025 | +20.8% | +172.7% |
| 2026 | +17.7% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
WBD represents 0.32% of QQQ's portfolio, so part of any move in QQQ is WBD itself, and the correlation between them is partly mechanical.
Are QQQ and WBD good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and WBD?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.15 over the last year and 0.30 over 5 years.
Is WBD a good diversifier for QQQ?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
On the −1 to +1 scale, 0.23 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-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · WBD correlations
