AAP vs QQQ: Correlation
Advance Auto Parts Inc. (AAP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAP and QQQ?
Across a 3-year window, the weekly returns of AAP and QQQ correlate at 0.18, weak. Little has changed lately, as the 1-year reading of 0.21 lands near the 3-year figure. Stretching to 5 years gives 0.24, with an annualized covariance of 205.3 %².
Among the 11 assets we track against AAP, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 53.0 points (-26.7% versus +26.3%). Note the risk asymmetry: AAP runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AAP vs QQQ: side by side
| AAP (Advance Auto Parts Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -26.7% | +26.3% |
| 5-year return | -75.5% | +95.4% |
| Volatility (ann.) | 57.4% | 19.6% |
| Beta vs S&P 500 | 0.80 | 1.28 |
| Max drawdown (3Y) | -64.2% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 2.27% | 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 | AAP | QQQ |
|---|---|---|
| 2022 | -36.5% | -32.6% |
| 2023 | -57.6% | +54.9% |
| 2024 | -21.1% | +25.6% |
| 2025 | -15.0% | +20.8% |
| 2026 | +12.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAP and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AAP and QQQ?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.21 over the last year and 0.24 over 5 years.
Is QQQ a good diversifier for AAP?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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
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Related comparisons
Hubs: AAP correlations · QQQ correlations
