QQQM vs SNPS: Correlation
Invesco Nasdaq 100 ETF (QQQM) and Synopsys (SNPS) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQM and SNPS?
On 3 years of weekly data the QQQM/SNPS correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.44) than the 3-year average (0.59). The 5-year figure is 0.65, and annualized covariance runs at 483.5 %².
Among the 103 assets we track against QQQM, SNPS ranks #64 by 3-year correlation. The last year tells two different stories: QQQM led by 49.3 percentage points, +26.4% for QQQM against -22.9% for SNPS. The relationship is regime-dependent: the rolling one-year correlation swung between 0.36 and 0.87 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since SNPS carries 2.2 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.
QQQM vs SNPS: side by side
| QQQM (Invesco Nasdaq 100 ETF) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | +26.4% | -22.9% |
| 5-year return | +96.1% | +39.1% |
| Volatility (ann.) | 19.5% | 42.2% |
| Beta vs S&P 500 | 1.28 | 1.57 |
| Max drawdown (3Y) | -22.7% | -42.3% |
| Market cap | – | $89.1B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 0.46% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $97.1B | – |
| Sector / category | ETF · US Growth & Tech | Information Technology |
QQQM, Invesco's Large Growth fund, carries $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | QQQM | SNPS |
|---|---|---|
| 2022 | -32.5% | -13.4% |
| 2023 | +55.0% | +61.3% |
| 2024 | +25.7% | -5.7% |
| 2025 | +20.9% | -3.2% |
| 2026 | +17.7% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQM holds SNPS at a 0.35% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are QQQM and SNPS good diversifiers for each other?
Only partially. A correlation of 0.59 means QQQM and SNPS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QQQM and SNPS?
The QQQM/SNPS correlation stands at 0.59 on a 3-year window (1 year: 0.44, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is SNPS a good diversifier for QQQM?
Only partially. A correlation of 0.59 means QQQM and SNPS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQM correlations · SNPS correlations
