QQQ vs WD: Correlation
How closely do Invesco QQQ Trust (QQQ) and Walker & Dunlop, Inc (WD) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WD?
On 3 years of weekly data the QQQ/WD correlation comes out at 0.32, moderate. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 244.1 %².
Within QQQ's tracked universe of 4755 assets, WD comes in at #1351 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 77.3 points (+26.3% versus -51.0%). Note the risk asymmetry: WD runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WD: side by side
| QQQ (Invesco QQQ Trust) | WD (Walker & Dunlop, Inc) | |
|---|---|---|
| 1-year return | +26.3% | -51.0% |
| 5-year return | +95.4% | -53.5% |
| Volatility (ann.) | 19.6% | 38.5% |
| Beta vs S&P 500 | 1.28 | 1.12 |
| Max drawdown (3Y) | -22.8% | -63.4% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | 36.0 |
| Dividend yield | 0.44% | 6.70% |
| 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 | WD |
|---|---|---|
| 2022 | -32.6% | -46.8% |
| 2023 | +54.9% | +46.0% |
| 2024 | +25.6% | -10.1% |
| 2025 | +20.8% | -35.9% |
| 2026 | +17.7% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and WD?
The QQQ/WD correlation stands at 0.32 on a 3-year window (1 year: 0.27, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is WD a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 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-wd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · WD correlations
