ADI vs QQQM: Correlation
Measured on weekly returns over the past three years, Analog Devices (ADI) and Invesco Nasdaq 100 ETF (QQQM) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and QQQM?
Over the past 3 years, ADI and QQQM moved with a correlation of 0.69, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 439.9 %².
Within ADI's tracked universe of 51 assets, QQQM comes in at #13 by 3-year correlation. The last year tells two different stories: ADI led by 22.2 percentage points, +48.6% for ADI against +26.4% for QQQM. On a rolling one-year basis the correlation drifted between 0.52 and 0.79, a moderate band. One caveat on sizing: ADI 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.
ADI vs QQQM: side by side
| ADI (Analog Devices) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +48.6% | +26.4% |
| 5-year return | +143.1% | +96.1% |
| Volatility (ann.) | 32.6% | 19.5% |
| Beta vs S&P 500 | 1.56 | 1.28 |
| Max drawdown (3Y) | -32.2% | -22.7% |
| Market cap | $181.5B | – |
| P/E (trailing) | 44.6 | – |
| Dividend yield | 1.15% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | ADI | QQQM |
|---|---|---|
| 2022 | -4.9% | -32.5% |
| 2023 | +23.4% | +55.0% |
| 2024 | +8.8% | +25.7% |
| 2025 | +29.8% | +20.9% |
| 2026 | +38.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQM holds ADI at a 0.8% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ADI and QQQM good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ADI and QQQM?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.66 over the last year and 0.69 over 5 years.
Is QQQM a good diversifier for ADI?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ADI correlations · QQQM correlations
