QQQ vs XPOF: Correlation
How closely do Invesco QQQ Trust (QQQ) and Xponential Fitness, Inc. (XPOF) trade together? Their weekly returns over three years give a correlation of 0.19, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XPOF?
On 3 years of weekly data the QQQ/XPOF correlation comes out at 0.19, weak. The past 12 months show a weaker link (0.00) than the 3-year average (0.19). The 5-year figure is 0.26, and annualized covariance runs at 332.4 %².
Within QQQ's tracked universe of 4755 assets, XPOF comes in at #2993 by 3-year correlation. The last year tells two different stories: QQQ led by 63.2 percentage points, +26.3% for QQQ against -36.9% for XPOF. Risk is not evenly split, since XPOF carries 4.5 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 XPOF: side by side
| QQQ (Invesco QQQ Trust) | XPOF (Xponential Fitness, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -36.9% |
| 5-year return | +95.4% | -52.9% |
| Volatility (ann.) | 19.6% | 88.8% |
| Beta vs S&P 500 | 1.28 | 1.31 |
| Max drawdown (3Y) | -22.8% | -81.1% |
| Market cap | – | $0.3B |
| 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 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 | XPOF |
|---|---|---|
| 2022 | -32.6% | +12.2% |
| 2023 | +54.9% | -43.8% |
| 2024 | +25.6% | +4.3% |
| 2025 | +20.8% | -38.8% |
| 2026 | +17.7% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XPOF good diversifiers for each other?
Yes. With a correlation of 0.19, QQQ and XPOF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and XPOF?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with 0.00 over the last year and 0.26 over 5 years.
Is XPOF a good diversifier for QQQ?
Yes. With a correlation of 0.19, QQQ and XPOF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 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-xpof.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xpof/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · XPOF correlations
