QQQ vs ZTS: Correlation
How closely do Invesco QQQ Trust (QQQ) and Zoetis (ZTS) trade together? Their weekly returns over three years give a correlation of 0.14, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZTS?
On 3 years of weekly data the QQQ/ZTS correlation comes out at 0.14, weak. Lately the two have drifted apart, with the 1-year correlation at -0.05 versus 0.14 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 81.9 %².
Within QQQ's tracked universe of 4755 assets, ZTS comes in at #3499 by 3-year correlation. The last year tells two different stories: QQQ led by 77.1 percentage points, +26.3% for QQQ against -50.8% for ZTS. This link changes with the market regime, having swung between -0.03 and 0.60 on a rolling one-year basis. One caveat on sizing: ZTS is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ZTS: side by side
| QQQ (Invesco QQQ Trust) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | +26.3% | -50.8% |
| 5-year return | +95.4% | -61.5% |
| Volatility (ann.) | 19.6% | 30.1% |
| Beta vs S&P 500 | 1.28 | 0.51 |
| Max drawdown (3Y) | -22.8% | -63.0% |
| Market cap | – | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | 0.44% | 2.66% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Health Care |
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 | ZTS |
|---|---|---|
| 2022 | -32.6% | -39.5% |
| 2023 | +54.9% | +35.9% |
| 2024 | +25.6% | -16.6% |
| 2025 | +20.8% | -21.8% |
| 2026 | +17.7% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZTS good diversifiers for each other?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and ZTS?
As of 2026-08-27, the correlation of weekly returns between QQQ and ZTS is 0.14 over 3 years, -0.05 over 1 year and 0.36 over 5 years.
Is ZTS a good diversifier for QQQ?
Yes: at 0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.14 mean?
On the −1 to +1 scale, 0.14 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-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · ZTS correlations
