SPY / QQQ
SPDR S&P 500 ETF and Invesco QQQ correlation 0.90
SPDR S&P 500 ETF and Invesco QQQ correlation is 0.90 over 90 ETF session closes, ending 2026-10-23. They move the same way almost tick for tick.
- 90-close correlation
- 0.90
- 30-close correlation
- 0.90
- Observations
- 90
- As of
- 2026-10-23
- SPY vol
- 11.1%
- QQQ vol
- 20.7%
- Calendar
- ETF session closes
- 30-close count
- 30
The 30-close correlation is 0.90, close to the 90-close print of 0.90. Both names are ETFs. The window is exchange sessions only.
SPY 90-close vol is 11.1%. QQQ is 20.7%. A 50/50 book of the two annualized vols would have realized about 15.5%, against 15.9% if you averaged the two vols with no diversification.
How to read this print
- Read the 90-close correlation for SPY and QQQ.
- Compare it with the 30-close print to see if the pair tightened or broke.
- Use the two realized vols to judge whether a 50/50 mix actually diversifies.
- Open the correlation matrix if you want the whole book, not one pair.
FAQ
People also ask
0.90 over 90 ETF session closes, ending 2026-10-23. They move the same way almost tick for tick.
The 30-close correlation is 0.90, close to the 90-close print of 0.90.
Using the 90-close vols and this correlation, a 50/50 book would have realized about 15.5%. Compare that with holding either name alone.
This print uses ETF session closes and log-return correlation on the aligned window. A site that uses weekly returns, a different session calendar, or a longer sample will not match it. The method is on this page.
Related
SPDR S&P 500 ETF volatility
90-close vol 11.1%.
Invesco QQQ volatility
90-close vol 20.7%.
Correlation matrix
The full book, not just this pair.
Risk parity optimizer
Weights that stop the higher-vol name from owning the book.
Diversification ratio
How much of the standalone vol a mix actually cancels.
SPY and IWM
Another pair in the same universe.
SPY and DIA
Another pair in the same universe.
SPY and GLD
Another pair in the same universe.
A correlation is not a hedge until you hold both.
This page is the market path. Thrive is the book you actually held, so you can see whether the hedge was real.