QQQ vs WCN: Correlation
How closely do Invesco QQQ Trust (QQQ) and Waste Connections, Inc. (WCN) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WCN?
On 3 years of weekly data the QQQ/WCN correlation comes out at 0.07, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.24) than the 3-year average (0.07). The 5-year figure is 0.25, and annualized covariance runs at 24.4 %².
By 3-year correlation, WCN places #4082 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with QQQ ahead by 35.3 points (+26.3% versus -9.0%).
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 WCN: side by side
| QQQ (Invesco QQQ Trust) | WCN (Waste Connections, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -9.0% |
| 5-year return | +95.4% | +33.1% |
| Volatility (ann.) | 19.6% | 18.2% |
| Beta vs S&P 500 | 1.28 | 0.23 |
| Max drawdown (3Y) | -22.8% | -24.9% |
| Market cap | – | $41.7B |
| P/E (trailing) | – | 40.3 |
| Dividend yield | 0.44% | 0.82% |
| 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 | WCN |
|---|---|---|
| 2022 | -32.6% | -2.0% |
| 2023 | +54.9% | +13.5% |
| 2024 | +25.6% | +15.7% |
| 2025 | +20.8% | +2.7% |
| 2026 | +17.7% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WCN good diversifiers for each other?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and WCN?
Using weekly returns as of 2026-08-27: 0.07 over 3 years, with -0.24 over the last year and 0.25 over 5 years.
Is WCN a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.07 means the two rarely move for the same reasons.
What does a correlation of 0.07 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-wcn.json
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Related comparisons
Hubs: QQQ correlations · WCN correlations
