QQQ vs XWEL: Correlation
How closely do Invesco QQQ Trust (QQQ) and XWELL, Inc. (XWEL) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XWEL?
Across a 3-year window, the weekly returns of QQQ and XWEL correlate at 0.03, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.03 lands near the 3-year figure. Stretching to 5 years gives 0.09, with an annualized covariance of 126.5 %².
Within QQQ's tracked universe of 4755 assets, XWEL comes in at #4352 by 3-year correlation. The last year tells two different stories: QQQ led by 33.8 percentage points, +26.3% for QQQ against -7.5% for XWEL. Note the risk asymmetry: XWEL runs 9.6 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 XWEL: side by side
| QQQ (Invesco QQQ Trust) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -7.5% |
| 5-year return | +95.4% | -97.2% |
| Volatility (ann.) | 19.6% | 188.4% |
| Beta vs S&P 500 | 1.28 | 0.41 |
| Max drawdown (3Y) | -22.8% | -92.8% |
| 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 |
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 | XWEL |
|---|---|---|
| 2022 | -32.6% | -82.2% |
| 2023 | +54.9% | -75.8% |
| 2024 | +25.6% | -13.2% |
| 2025 | +20.8% | -69.5% |
| 2026 | +17.7% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XWEL good diversifiers for each other?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and XWEL?
The QQQ/XWEL correlation stands at 0.03 on a 3-year window (1 year: -0.03, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is XWEL a good diversifier for QQQ?
Yes: at 0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.03 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-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · XWEL correlations
