AEF vs QQQ: Correlation
Measured on weekly returns over the past three years, abrdn Emerging Markets ex-China Fund, Inc. (AEF) and Invesco QQQ Trust (QQQ) 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 AEF and QQQ?
Over the past 3 years, AEF and QQQ moved with a correlation of 0.69, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 320.0 %².
Within AEF's tracked universe of 21 assets, QQQ comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AEF outperformed by 43.1 percentage points (+69.4% for AEF against +26.3% for QQQ).
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.
AEF vs QQQ: side by side
| AEF (abrdn Emerging Markets ex-China Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +69.4% | +26.3% |
| 5-year return | +66.6% | +95.4% |
| Volatility (ann.) | 23.7% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -20.0% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 4.1 | – |
| Dividend yield | 6.80% | 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 | AEF | QQQ |
|---|---|---|
| 2022 | -29.6% | -32.6% |
| 2023 | +7.1% | +54.9% |
| 2024 | +9.4% | +25.6% |
| 2025 | +50.2% | +20.8% |
| 2026 | +41.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEF and QQQ 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 AEF and QQQ?
The AEF/QQQ correlation stands at 0.69 on a 3-year window (1 year: 0.76, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AEF?
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?
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
$ curl https://www.pairbook.io/api/v1/pairs/aef-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aef-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEF correlations · QQQ correlations
