QQQ vs WULF: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and TeraWulf Inc. (WULF) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WULF?
Over the past 3 years, QQQ and WULF moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 782.0 %².
Within QQQ's tracked universe of 4755 assets, WULF comes in at #803 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WULF outperformed by 54.3 percentage points (+26.3% for QQQ against +80.6% for WULF). One caveat on sizing: WULF is 5.4 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 WULF: side by side
| QQQ (Invesco QQQ Trust) | WULF (TeraWulf Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +80.6% |
| 5-year return | +95.4% | -32.7% |
| Volatility (ann.) | 19.6% | 105.8% |
| Beta vs S&P 500 | 1.28 | 2.76 |
| Max drawdown (3Y) | -22.8% | -74.6% |
| Market cap | – | $8.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| 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 | WULF |
|---|---|---|
| 2022 | -32.6% | -95.5% |
| 2023 | +54.9% | +258.2% |
| 2024 | +25.6% | +135.8% |
| 2025 | +20.8% | +103.0% |
| 2026 | +17.7% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WULF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and WULF?
The QQQ/WULF correlation stands at 0.38 on a 3-year window (1 year: 0.44, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is WULF a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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 · WULF correlations
