QQQ vs WBX: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Wallbox N.V. Class A (WBX) carry a correlation of 0.05, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WBX?
Across a 3-year window, the weekly returns of QQQ and WBX correlate at 0.05, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.33) runs above the 3-year figure (0.05). Stretching to 5 years gives 0.06, with an annualized covariance of 962.6 %².
Within QQQ's tracked universe of 4755 assets, WBX comes in at #4228 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 58.2 points (+26.3% versus -31.9%). One caveat on sizing: WBX is 49.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WBX: side by side
| QQQ (Invesco QQQ Trust) | WBX (Wallbox N.V. Class A) | |
|---|---|---|
| 1-year return | +26.3% | -31.9% |
| 5-year return | +95.4% | -70.7% |
| Volatility (ann.) | 19.6% | 975.4% |
| Beta vs S&P 500 | 1.28 | 4.88 |
| Max drawdown (3Y) | -22.8% | -91.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | WBX |
|---|---|---|
| 2022 | -32.6% | -78.1% |
| 2023 | +54.9% | -51.1% |
| 2024 | +25.6% | -71.4% |
| 2025 | +20.8% | +367.1% |
| 2026 | +17.7% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WBX good diversifiers for each other?
Yes. With a correlation of 0.05, QQQ and WBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and WBX?
The QQQ/WBX correlation stands at 0.05 on a 3-year window (1 year: 0.33, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is WBX a good diversifier for QQQ?
Yes. With a correlation of 0.05, QQQ and WBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.05 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
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[](https://www.pairbook.io/pair/qqq-vs-wbx/)
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Hubs: QQQ correlations · WBX correlations
