QQQ vs WHD: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Cactus, Inc. (WHD) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WHD?
Across a 3-year window, the weekly returns of QQQ and WHD correlate at 0.30, moderate. Recent behaviour matches the longer record: 0.24 over 1 year against 0.30 over 3. Stretching to 5 years gives 0.28, with an annualized covariance of 238.2 %².
By 3-year correlation, WHD places #1549 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with WHD ahead by 39.8 points (+26.3% versus +66.1%). One caveat on sizing: WHD is 2.1 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 WHD: side by side
| QQQ (Invesco QQQ Trust) | WHD (Cactus, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +66.1% |
| 5-year return | +95.4% | +89.5% |
| Volatility (ann.) | 19.6% | 41.2% |
| Beta vs S&P 500 | 1.28 | 1.11 |
| Max drawdown (3Y) | -22.8% | -51.4% |
| Market cap | – | $4.8B |
| P/E (trailing) | – | 55.7 |
| Dividend yield | 0.44% | 0.84% |
| 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 | WHD |
|---|---|---|
| 2022 | -32.6% | +33.0% |
| 2023 | +54.9% | -8.7% |
| 2024 | +25.6% | +29.7% |
| 2025 | +20.8% | -20.8% |
| 2026 | +17.7% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WHD good diversifiers for each other?
Reasonably. At 0.30, QQQ and WHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and WHD?
As of 2026-08-27, the correlation of weekly returns between QQQ and WHD is 0.30 over 3 years, 0.24 over 1 year and 0.28 over 5 years.
Is WHD a good diversifier for QQQ?
Reasonably. At 0.30, QQQ and WHD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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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Related comparisons
Hubs: QQQ correlations · WHD correlations
