QQQ vs WEX: Correlation
Invesco QQQ Trust (QQQ) and WEX Inc. (WEX) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WEX?
Over the past 3 years, QQQ and WEX moved with a correlation of 0.23, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.09 versus 0.23 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 158.7 %².
By 3-year correlation, WEX places #2458 of the 4755 assets tracked against QQQ. On 12-month performance QQQ holds a 11.6-point edge, +26.3% against +14.7%. Note the risk asymmetry: WEX runs 1.8 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 WEX: side by side
| QQQ (Invesco QQQ Trust) | WEX (WEX Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +14.7% |
| 5-year return | +95.4% | +8.4% |
| Volatility (ann.) | 19.6% | 35.5% |
| Beta vs S&P 500 | 1.28 | 0.97 |
| Max drawdown (3Y) | -22.8% | -53.2% |
| Market cap | – | $6.8B |
| P/E (trailing) | – | 19.8 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | WEX |
|---|---|---|
| 2022 | -32.6% | +16.6% |
| 2023 | +54.9% | +18.9% |
| 2024 | +25.6% | -9.9% |
| 2025 | +20.8% | -15.0% |
| 2026 | +17.7% | +33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WEX 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 WEX?
The QQQ/WEX correlation stands at 0.23 on a 3-year window (1 year: -0.09, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is WEX 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?
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-wex.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · WEX correlations
