QQQ vs ZGN: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Ermenegildo Zegna N.V. (ZGN) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZGN?
On 3 years of weekly data the QQQ/ZGN correlation comes out at 0.35, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 296.3 %².
By 3-year correlation, ZGN places #1059 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with ZGN ahead by 39.8 points (+26.3% versus +66.1%). Note the risk asymmetry: ZGN runs 2.2 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 ZGN: side by side
| QQQ (Invesco QQQ Trust) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | +26.3% | +66.1% |
| 5-year return | +95.4% | +34.1% |
| Volatility (ann.) | 19.6% | 43.6% |
| Beta vs S&P 500 | 1.28 | 1.27 |
| Max drawdown (3Y) | -22.8% | -59.0% |
| Market cap | – | $3.7B |
| P/E (trailing) | – | 31.0 |
| Dividend yield | 0.44% | 0.87% |
| 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 | ZGN |
|---|---|---|
| 2022 | -32.6% | +0.8% |
| 2023 | +54.9% | +11.5% |
| 2024 | +25.6% | -27.8% |
| 2025 | +20.8% | +26.0% |
| 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 ZGN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and ZGN?
As of 2026-08-27, the correlation of weekly returns between QQQ and ZGN is 0.35 over 3 years, 0.31 over 1 year and 0.32 over 5 years.
Is ZGN a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · ZGN correlations
