QQQ vs WMG: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Warner Music Group Corp. (WMG) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WMG?
On 3 years of weekly data the QQQ/WMG correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.43 over 3. The 5-year figure is 0.45, and annualized covariance runs at 259.1 %².
Among the 4755 assets we track against QQQ, WMG ranks #500 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 41.0 percentage points (+26.3% for QQQ against -14.7% for WMG). Note the risk asymmetry: WMG runs 1.6 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 WMG: side by side
| QQQ (Invesco QQQ Trust) | WMG (Warner Music Group Corp.) | |
|---|---|---|
| 1-year return | +26.3% | -14.7% |
| 5-year return | +95.4% | -16.9% |
| Volatility (ann.) | 19.6% | 30.7% |
| Beta vs S&P 500 | 1.28 | 0.91 |
| Max drawdown (3Y) | -22.8% | -33.1% |
| Market cap | – | $14.7B |
| P/E (trailing) | – | 22.4 |
| Dividend yield | 0.44% | 2.72% |
| 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 | WMG |
|---|---|---|
| 2022 | -32.6% | -17.2% |
| 2023 | +54.9% | +4.4% |
| 2024 | +25.6% | -11.5% |
| 2025 | +20.8% | +1.4% |
| 2026 | +17.7% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WMG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and WMG?
The QQQ/WMG correlation stands at 0.43 on a 3-year window (1 year: 0.43, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is WMG a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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 · WMG correlations
