QQQM vs VXZ: Correlation
How closely do Invesco Nasdaq 100 ETF (QQQM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.66, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQM and VXZ?
On 3 years of weekly data the QQQM/VXZ correlation comes out at -0.66, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.54) than the 3-year average (-0.66). The 5-year figure is -0.63, and annualized covariance runs at -326.3 %².
Among the 103 assets we track against QQQM, VXZ sits near the bottom by co-movement, at rank #101. Correlation aside, the last 12 months split them widely, with QQQM ahead by 42.5 points (+26.4% versus -16.1%).
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 VXZ: side by side
| QQQM (Invesco Nasdaq 100 ETF) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.4% | -16.1% |
| 5-year return | +96.1% | -53.1% |
| Volatility (ann.) | 19.5% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -22.7% | -36.4% |
| Dividend yield | 0.46% | – |
| Expense ratio | 0.15% | – |
| Assets under management | $97.1B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | VXZ |
|---|---|---|
| 2022 | -32.5% | +0.5% |
| 2023 | +55.0% | -44.0% |
| 2024 | +25.7% | -12.7% |
| 2025 | +20.9% | +5.7% |
| 2026 | +17.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQM and VXZ?
The QQQM/VXZ correlation stands at -0.66 on a 3-year window (1 year: -0.54, 5 years: -0.63), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for QQQM?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
What does a correlation of -0.66 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqqm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqqm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQM correlations · VXZ correlations
