QQQ vs WMT: Correlation
How closely do Invesco QQQ Trust (QQQ) and Walmart (WMT) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WMT?
On 3 years of weekly data the QQQ/WMT correlation comes out at 0.30, moderate. The past 12 months show a weaker link (0.00) than the 3-year average (0.30). The 5-year figure is 0.36, and annualized covariance runs at 136.4 %².
By 3-year correlation, WMT places #1551 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 18.6 percentage points (+26.3% for QQQ against +7.7% for WMT). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.06 to 0.58.
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 WMT: side by side
| QQQ (Invesco QQQ Trust) | WMT (Walmart) | |
|---|---|---|
| 1-year return | +26.3% | +7.7% |
| 5-year return | +95.4% | +121.9% |
| Volatility (ann.) | 19.6% | 23.0% |
| Beta vs S&P 500 | 1.28 | 0.53 |
| Max drawdown (3Y) | -22.8% | -23.3% |
| Market cap | – | $816.7B |
| P/E (trailing) | – | 37.1 |
| Dividend yield | 0.44% | 0.92% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Consumer Staples |
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 | WMT |
|---|---|---|
| 2022 | -32.6% | -0.5% |
| 2023 | +54.9% | +12.9% |
| 2024 | +25.6% | +74.0% |
| 2025 | +20.8% | +24.5% |
| 2026 | +17.7% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.26% of QQQ is WMT itself, so the fund partly moves with the stock by construction.
Are QQQ and WMT good diversifiers for each other?
Reasonably. At 0.30, QQQ and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and WMT?
The QQQ/WMT correlation stands at 0.30 on a 3-year window (1 year: 0.00, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is WMT a good diversifier for QQQ?
Reasonably. At 0.30, QQQ and WMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · WMT correlations
