QQQ vs ZBAO: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Zhibao Technology Inc. - Class A (ZBAO) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZBAO?
On 3 years of weekly data the QQQ/ZBAO correlation comes out at 0.23, weak. Little has changed lately, as the 1-year reading of 0.25 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 402.2 %².
Within QQQ's tracked universe of 4755 assets, ZBAO comes in at #2466 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 109.1 percentage points (+26.3% for QQQ against -82.8% for ZBAO). Note the risk asymmetry: ZBAO runs 4.3 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 ZBAO: side by side
| QQQ (Invesco QQQ Trust) | ZBAO (Zhibao Technology Inc. - Class A) | |
|---|---|---|
| 1-year return | +26.3% | -82.8% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 85.1% |
| Beta vs S&P 500 | 1.28 | 1.27 |
| Max drawdown (3Y) | -22.8% | -96.6% |
| 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, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | ZBAO |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | – |
| 2024 | +25.6% | – |
| 2025 | +20.8% | -42.6% |
| 2026 | +17.7% | -80.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZBAO good diversifiers for each other?
Reasonably. At 0.23, QQQ and ZBAO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and ZBAO?
The QQQ/ZBAO correlation stands at 0.23 on a 3-year window (1 year: 0.25, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ZBAO a good diversifier for QQQ?
Reasonably. At 0.23, QQQ and ZBAO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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.
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Related comparisons
Hubs: QQQ correlations · ZBAO correlations
