QQQ vs XP: Correlation
Invesco QQQ Trust (QQQ) and XP Inc. (XP) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XP?
On 3 years of weekly data the QQQ/XP correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.37 over 3. The 5-year figure is 0.35, and annualized covariance runs at 297.9 %².
By 3-year correlation, XP places #882 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 20.5 percentage points, +26.3% for QQQ against +5.8% for XP. Note the risk asymmetry: XP runs 2.1 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 XP: side by side
| QQQ (Invesco QQQ Trust) | XP (XP Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +5.8% |
| 5-year return | +95.4% | -58.9% |
| Volatility (ann.) | 19.6% | 41.0% |
| Beta vs S&P 500 | 1.28 | 1.18 |
| Max drawdown (3Y) | -22.8% | -56.6% |
| Market cap | – | $9.0B |
| P/E (trailing) | – | 9.0 |
| Dividend yield | 0.44% | 11.39% |
| 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 | XP |
|---|---|---|
| 2022 | -32.6% | -46.6% |
| 2023 | +54.9% | +79.6% |
| 2024 | +25.6% | -52.2% |
| 2025 | +20.8% | +39.5% |
| 2026 | +17.7% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XP good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and XP?
The QQQ/XP correlation stands at 0.37 on a 3-year window (1 year: 0.31, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is XP a good diversifier for QQQ?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-xp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · XP correlations
