QQQM vs TSLA: Correlation
Measured on weekly returns over the past three years, Invesco Nasdaq 100 ETF (QQQM) and Tesla, Inc. (TSLA) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQM and TSLA?
Across a 3-year window, the weekly returns of QQQM and TSLA correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 598.2 %².
By 3-year correlation, TSLA places #68 of the 103 assets tracked against QQQM. The last year tells two different stories: QQQM led by 24.9 percentage points, +26.4% for QQQM against +1.5% for TSLA. The rolling one-year correlation stayed in a tight band between 0.47 and 0.67 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: TSLA is 2.8 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.
QQQM vs TSLA: side by side
| QQQM (Invesco Nasdaq 100 ETF) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | +26.4% | +1.5% |
| 5-year return | +96.1% | +45.6% |
| Volatility (ann.) | 19.5% | 53.9% |
| Beta vs S&P 500 | 1.28 | 1.87 |
| Max drawdown (3Y) | -22.7% | -53.8% |
| Market cap | – | $1,401.3B |
| P/E (trailing) | – | 322.6 |
| Dividend yield | 0.46% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $97.1B | – |
| Sector / category | ETF · US Growth & Tech | Consumer Discretionary |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | QQQM | TSLA |
|---|---|---|
| 2022 | -32.5% | -65.0% |
| 2023 | +55.0% | +101.7% |
| 2024 | +25.7% | +62.5% |
| 2025 | +20.9% | +11.4% |
| 2026 | +17.7% | -21.1% |
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 TSLA at a 2.77% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are QQQM and TSLA good diversifiers for each other?
Only partially. A correlation of 0.57 means QQQM and TSLA 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 TSLA?
As of 2026-08-27, the correlation of weekly returns between QQQM and TSLA is 0.57 over 3 years, 0.63 over 1 year and 0.61 over 5 years.
Is TSLA a good diversifier for QQQM?
Only partially. A correlation of 0.57 means QQQM and TSLA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqqm-vs-tsla.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqqm-vs-tsla/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQM correlations · TSLA correlations
