AAT vs QQQ: Correlation
American Assets Trust, Inc. (AAT) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and QQQ?
Across a 3-year window, the weekly returns of AAT and QQQ correlate at 0.25, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 131.9 %².
Among the 24 assets we track against AAT, QQQ sits near the bottom by co-movement, at rank #21. On 12-month performance QQQ holds a 10.1-point edge, +16.2% against +26.3%.
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.
AAT vs QQQ: side by side
| AAT (American Assets Trust, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.2% | +26.3% |
| 5-year return | -24.9% | +95.4% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -38.0% | -22.8% |
| Market cap | $1.7B | – |
| P/E (trailing) | 75.0 | – |
| Dividend yield | 5.98% | 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 | AAT | QQQ |
|---|---|---|
| 2022 | -26.4% | -32.6% |
| 2023 | -9.6% | +54.9% |
| 2024 | +23.3% | +25.6% |
| 2025 | -23.0% | +20.8% |
| 2026 | +22.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AAT and QQQ?
The AAT/QQQ correlation stands at 0.25 on a 3-year window (1 year: 0.19, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AAT?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 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/aat-vs-qqq/)
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Related comparisons
Hubs: AAT correlations · QQQ correlations
