AAPL vs QCOM: Correlation
Measured on weekly returns over the past three years, Apple Inc. (AAPL) and Qualcomm (QCOM) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAPL and QCOM?
On 3 years of weekly data the AAPL/QCOM correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 469.2 %².
Among the 32 assets we track against AAPL, QCOM ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AAPL outperformed by 31.7 percentage points (+37.0% for AAPL against +5.3% for QCOM). On a rolling one-year basis the correlation drifted between 0.27 and 0.76, a moderate band. Note the risk asymmetry: QCOM runs 1.6 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.
AAPL vs QCOM: side by side
| AAPL (Apple Inc.) | QCOM (Qualcomm) | |
|---|---|---|
| 1-year return | +37.0% | +5.3% |
| 5-year return | +110.6% | +25.8% |
| Volatility (ann.) | 27.2% | 42.4% |
| Beta vs S&P 500 | 1.06 | 1.77 |
| Max drawdown (3Y) | -33.4% | -44.2% |
| Market cap | $4,591.0B | $176.0B |
| P/E (trailing) | 36.1 | 18.9 |
| Dividend yield | 0.33% | 2.19% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | AAPL | QCOM |
|---|---|---|
| 2022 | -26.4% | -38.6% |
| 2023 | +49.0% | +35.1% |
| 2024 | +30.7% | +8.3% |
| 2025 | +9.1% | +13.8% |
| 2026 | +16.0% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAPL and QCOM good diversifiers for each other?
Reasonably. At 0.41, AAPL and QCOM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AAPL and QCOM?
The AAPL/QCOM correlation stands at 0.41 on a 3-year window (1 year: 0.32, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is QCOM a good diversifier for AAPL?
Reasonably. At 0.41, AAPL and QCOM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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
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[](https://www.pairbook.io/pair/aapl-vs-qcom/)
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Related comparisons
Hubs: AAPL correlations · QCOM correlations
