ABG vs QQQ: Correlation
How closely do Asbury Automotive Group Inc (ABG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABG and QQQ?
On 3 years of weekly data the ABG/QQQ correlation comes out at 0.33, moderate. The link has loosened recently: the 1-year correlation (0.08) runs below the 3-year figure (0.33). The 5-year figure is 0.30, and annualized covariance runs at 216.7 %².
Out of 12 assets tracked against ABG, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 44.2 percentage points, -17.9% for ABG against +26.3% for QQQ. One caveat on sizing: ABG is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABG vs QQQ: side by side
| ABG (Asbury Automotive Group Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -17.9% | +26.3% |
| 5-year return | +13.5% | +95.4% |
| Volatility (ann.) | 33.4% | 19.6% |
| Beta vs S&P 500 | 1.02 | 1.28 |
| Max drawdown (3Y) | -42.4% | -22.8% |
| Market cap | $3.8B | – |
| P/E (trailing) | 7.8 | – |
| 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 | ABG | QQQ |
|---|---|---|
| 2022 | +3.8% | -32.6% |
| 2023 | +25.5% | +54.9% |
| 2024 | +8.0% | +25.6% |
| 2025 | -4.3% | +20.8% |
| 2026 | -9.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABG and QQQ good diversifiers for each other?
Reasonably. At 0.33, ABG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABG and QQQ?
The ABG/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.08, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ABG?
Reasonably. At 0.33, ABG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 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.
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Related comparisons
Hubs: ABG correlations · QQQ correlations
