QQQ vs WWD: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Woodward, Inc. (WWD) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and WWD?
Across a 3-year window, the weekly returns of QQQ and WWD correlate at 0.40, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.40). Stretching to 5 years gives 0.45, with an annualized covariance of 262.2 %².
By 3-year correlation, WWD places #652 of the 4755 assets tracked against QQQ. The trailing year gives WWD the advantage: +26.3% versus +39.2%, a 12.9-point spread. Note the risk asymmetry: WWD runs 1.7 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 WWD: side by side
| QQQ (Invesco QQQ Trust) | WWD (Woodward, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +39.2% |
| 5-year return | +95.4% | +191.7% |
| Volatility (ann.) | 19.6% | 33.5% |
| Beta vs S&P 500 | 1.28 | 1.09 |
| Max drawdown (3Y) | -22.8% | -23.6% |
| Market cap | – | $20.4B |
| P/E (trailing) | – | 38.5 |
| Dividend yield | 0.44% | 0.28% |
| 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 | WWD |
|---|---|---|
| 2022 | -32.6% | -11.1% |
| 2023 | +54.9% | +42.0% |
| 2024 | +25.6% | +23.0% |
| 2025 | +20.8% | +82.6% |
| 2026 | +17.7% | +14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and WWD good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and WWD?
The QQQ/WWD correlation stands at 0.40 on a 3-year window (1 year: 0.21, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is WWD a good diversifier for QQQ?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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-wwd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-wwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · WWD correlations
