QQQ vs WTI: Correlation
Invesco QQQ Trust (QQQ) and W&T Offshore, Inc. (WTI) show a near-zero relationship: their 3-year correlation of weekly returns is 0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WTI?
On 3 years of weekly data the QQQ/WTI correlation comes out at 0.02, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.22 versus 0.02 over 3 years. The 5-year figure is 0.03, and annualized covariance runs at 28.3 %².
Within QQQ's tracked universe of 4755 assets, WTI comes in at #4406 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WTI ahead by 78.6 points (+26.3% versus +104.9%). Note the risk asymmetry: WTI runs 3.3 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 WTI: side by side
| QQQ (Invesco QQQ Trust) | WTI (W&T Offshore, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +104.9% |
| 5-year return | +95.4% | +18.8% |
| Volatility (ann.) | 19.6% | 64.6% |
| Beta vs S&P 500 | 1.28 | 0.24 |
| Max drawdown (3Y) | -22.8% | -74.3% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 1.12% |
| 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 | WTI |
|---|---|---|
| 2022 | -32.6% | +72.8% |
| 2023 | +54.9% | -41.4% |
| 2024 | +25.6% | -48.2% |
| 2025 | +20.8% | +0.6% |
| 2026 | +17.7% | +126.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WTI good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and WTI?
The QQQ/WTI correlation stands at 0.02 on a 3-year window (1 year: -0.22, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is WTI a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 mean?
On the −1 to +1 scale, 0.02 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-wti.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-wti/)
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Related comparisons
Hubs: QQQ correlations · WTI correlations
