QQQ vs WTM: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and White Mountains Insurance Group, Ltd. (WTM) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WTM?
Across a 3-year window, the weekly returns of QQQ and WTM correlate at 0.03, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.09 versus 0.03 over 3 years. Stretching to 5 years gives 0.07, with an annualized covariance of 11.7 %².
By 3-year correlation, WTM places #4350 of the 4755 assets tracked against QQQ. The trailing year gives QQQ the advantage: +26.3% versus +15.3%, a 11.0-point spread.
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 WTM: side by side
| QQQ (Invesco QQQ Trust) | WTM (White Mountains Insurance Group, Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | +15.3% |
| 5-year return | +95.4% | +90.5% |
| Volatility (ann.) | 19.6% | 20.6% |
| Beta vs S&P 500 | 1.28 | 0.23 |
| Max drawdown (3Y) | -22.8% | -18.0% |
| Market cap | – | $5.1B |
| P/E (trailing) | – | 4.9 |
| Dividend yield | 0.44% | 0.05% |
| 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 | WTM |
|---|---|---|
| 2022 | -32.6% | +39.6% |
| 2023 | +54.9% | +6.5% |
| 2024 | +25.6% | +29.3% |
| 2025 | +20.8% | +6.9% |
| 2026 | +17.7% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WTM good diversifiers for each other?
Yes. With a correlation of 0.03, QQQ and WTM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and WTM?
The QQQ/WTM correlation stands at 0.03 on a 3-year window (1 year: -0.09, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is WTM a good diversifier for QQQ?
Yes. With a correlation of 0.03, QQQ and WTM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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.
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Related comparisons
Hubs: QQQ correlations · WTM correlations
