AAOI vs QQQ: Correlation
Measured on weekly returns over the past three years, Applied Optoelectronics, Inc. (AAOI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAOI and QQQ?
Across a 3-year window, the weekly returns of AAOI and QQQ correlate at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 800.6 %².
QQQ is close to the least connected end of AAOI's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months AAOI outperformed by 344.7 percentage points (+371.0% for AAOI against +26.3% for QQQ). Risk is not evenly split, since AAOI carries 6.1 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.
AAOI vs QQQ: side by side
| AAOI (Applied Optoelectronics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +371.0% | +26.3% |
| 5-year return | +1456.0% | +95.4% |
| Volatility (ann.) | 119.6% | 19.6% |
| Beta vs S&P 500 | 3.25 | 1.28 |
| Max drawdown (3Y) | -77.2% | -22.8% |
| Market cap | $9.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | AAOI | QQQ |
|---|---|---|
| 2022 | -63.2% | -32.6% |
| 2023 | +922.2% | +54.9% |
| 2024 | +90.8% | +25.6% |
| 2025 | -5.4% | +20.8% |
| 2026 | +225.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and QQQ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AAOI and QQQ?
As of 2026-08-27, the correlation of weekly returns between AAOI and QQQ is 0.34 over 3 years, 0.26 over 1 year and 0.29 over 5 years.
Is QQQ a good diversifier for AAOI?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/aaoi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aaoi-vs-qqq/)
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Related comparisons
Hubs: AAOI correlations · QQQ correlations
