QQQ vs XOS: Correlation
How closely do Invesco QQQ Trust (QQQ) and Xos, Inc. (XOS) 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 XOS?
Over the past 3 years, QQQ and XOS moved with a correlation of 0.08, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.12) than the 3-year average (0.08). Over 5 years the correlation is 0.13, and the annualized covariance of weekly returns is 189.2 %².
Within QQQ's tracked universe of 4755 assets, XOS comes in at #4019 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +18.1%, a 8.2-point spread. One caveat on sizing: XOS is 6.2 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 XOS: side by side
| QQQ (Invesco QQQ Trust) | XOS (Xos, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +18.1% |
| 5-year return | +95.4% | -98.2% |
| Volatility (ann.) | 19.6% | 122.0% |
| Beta vs S&P 500 | 1.28 | 0.87 |
| Max drawdown (3Y) | -22.8% | -88.1% |
| Market cap | – | $0.1B |
| 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 | XOS |
|---|---|---|
| 2022 | -32.6% | -85.9% |
| 2023 | +54.9% | -40.0% |
| 2024 | +25.6% | -59.4% |
| 2025 | +20.8% | -44.1% |
| 2026 | +17.7% | +95.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XOS good diversifiers for each other?
Yes. With a correlation of 0.08, QQQ and XOS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and XOS?
Using weekly returns as of 2026-08-27: 0.08 over 3 years, with -0.12 over the last year and 0.13 over 5 years.
Is XOS a good diversifier for QQQ?
Yes. With a correlation of 0.08, QQQ and XOS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-xos.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xos/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · XOS correlations
