QQQ vs WFC: Correlation
Invesco QQQ Trust (QQQ) and Wells Fargo (WFC) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WFC?
On 3 years of weekly data the QQQ/WFC correlation comes out at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.13 versus 0.33 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 188.7 %².
Within QQQ's tracked universe of 4755 assets, WFC comes in at #1246 by 3-year correlation. The last year tells two different stories: QQQ led by 21.1 percentage points, +26.3% for QQQ against +5.2% for WFC. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.02 to 0.67. Note the risk asymmetry: WFC runs 1.5 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 WFC: side by side
| QQQ (Invesco QQQ Trust) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | +26.3% | +5.2% |
| 5-year return | +95.4% | +98.3% |
| Volatility (ann.) | 19.6% | 29.7% |
| Beta vs S&P 500 | 1.28 | 0.98 |
| Max drawdown (3Y) | -22.8% | -24.7% |
| Market cap | – | $256.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.44% | 2.11% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Financials |
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 | WFC |
|---|---|---|
| 2022 | -32.6% | -11.9% |
| 2023 | +54.9% | +22.9% |
| 2024 | +25.6% | +46.5% |
| 2025 | +20.8% | +35.6% |
| 2026 | +17.7% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WFC good diversifiers for each other?
Reasonably. At 0.33, QQQ and WFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and WFC?
The QQQ/WFC correlation stands at 0.33 on a 3-year window (1 year: 0.13, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is WFC a good diversifier for QQQ?
Reasonably. At 0.33, QQQ and WFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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.
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Related comparisons
Hubs: QQQ correlations · WFC correlations
