QQQ vs XBP: Correlation
How closely do Invesco QQQ Trust (QQQ) and XBP Global Holdings, Inc. (XBP) trade together? Their weekly returns over three years give a correlation of -0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XBP?
Over the past 3 years, QQQ and XBP moved with a correlation of -0.08, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.02) sits close to the 3-year figure. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -238.9 %².
Among the 4755 assets we track against QQQ, XBP ranks #4704 by 3-year correlation. The last year tells two different stories: QQQ led by 78.5 percentage points, +26.3% for QQQ against -52.2% for XBP. Risk is not evenly split, since XBP carries 7.4 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 XBP: side by side
| QQQ (Invesco QQQ Trust) | XBP (XBP Global Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -52.2% |
| 5-year return | +95.4% | -97.1% |
| Volatility (ann.) | 19.6% | 145.1% |
| Beta vs S&P 500 | 1.28 | -0.32 |
| Max drawdown (3Y) | -22.8% | -99.5% |
| Market cap | – | – |
| 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 |
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 | XBP |
|---|---|---|
| 2022 | -32.6% | +4.3% |
| 2023 | +54.9% | -49.1% |
| 2024 | +25.6% | -79.4% |
| 2025 | +20.8% | -37.5% |
| 2026 | +17.7% | -57.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XBP good diversifiers for each other?
Yes: at -0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and XBP?
As of 2026-08-27, the correlation of weekly returns between QQQ and XBP is -0.08 over 3 years, 0.02 over 1 year and -0.06 over 5 years.
Is XBP a good diversifier for QQQ?
Yes: at -0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.08 mean?
On the −1 to +1 scale, -0.08 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 · XBP correlations
