QQQ vs WMS: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Advanced Drainage Systems, Inc. (WMS) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WMS?
On 3 years of weekly data the QQQ/WMS correlation comes out at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.44 over 3 years. The 5-year figure is 0.53, and annualized covariance runs at 319.6 %².
By 3-year correlation, WMS places #463 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 30.7 percentage points (+26.3% for QQQ against -4.4% for WMS). One caveat on sizing: WMS is 1.9 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 WMS: side by side
| QQQ (Invesco QQQ Trust) | WMS (Advanced Drainage Systems, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -4.4% |
| 5-year return | +95.4% | +22.1% |
| Volatility (ann.) | 19.6% | 37.1% |
| Beta vs S&P 500 | 1.28 | 1.31 |
| Max drawdown (3Y) | -22.8% | -45.8% |
| Market cap | – | $10.5B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.44% | 0.52% |
| 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 | WMS |
|---|---|---|
| 2022 | -32.6% | -39.5% |
| 2023 | +54.9% | +72.4% |
| 2024 | +25.6% | -17.5% |
| 2025 | +20.8% | +26.0% |
| 2026 | +17.7% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WMS good diversifiers for each other?
Reasonably. At 0.44, QQQ and WMS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and WMS?
The QQQ/WMS correlation stands at 0.44 on a 3-year window (1 year: 0.29, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is WMS a good diversifier for QQQ?
Reasonably. At 0.44, QQQ and WMS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-wms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wms/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · WMS correlations
