QQQ vs WPM: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WPM?
On 3 years of weekly data the QQQ/WPM correlation comes out at 0.27, weak. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.30, and annualized covariance runs at 214.5 %².
By 3-year correlation, WPM places #1928 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months WPM outperformed by 38.0 percentage points (+26.3% for QQQ against +64.3% for WPM). Risk is not evenly split, since WPM carries 2.1 times the volatility of the other side.
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 WPM: side by side
| QQQ (Invesco QQQ Trust) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +26.3% | +64.3% |
| 5-year return | +95.4% | +275.2% |
| Volatility (ann.) | 19.6% | 41.1% |
| Beta vs S&P 500 | 1.28 | 0.82 |
| Max drawdown (3Y) | -22.8% | -37.4% |
| Market cap | – | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.44% | 0.46% |
| 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 | WPM |
|---|---|---|
| 2022 | -32.6% | -7.5% |
| 2023 | +54.9% | +27.9% |
| 2024 | +25.6% | +15.2% |
| 2025 | +20.8% | +109.8% |
| 2026 | +17.7% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WPM good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and WPM?
The QQQ/WPM correlation stands at 0.27 on a 3-year window (1 year: 0.36, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is WPM a good diversifier for QQQ?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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-wpm.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: QQQ correlations · WPM correlations
