AEIS vs QQQ: Correlation
Measured on weekly returns over the past three years, Advanced Energy Industries, Inc. (AEIS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEIS and QQQ?
On 3 years of weekly data the AEIS/QQQ correlation comes out at 0.57, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.57). The 5-year figure is 0.60, and annualized covariance runs at 485.3 %².
Within AEIS's tracked universe of 32 assets, QQQ comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AEIS ahead by 60.7 points (+87.0% versus +26.3%). Note the risk asymmetry: AEIS runs 2.2 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.
AEIS vs QQQ: side by side
| AEIS (Advanced Energy Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +87.0% | +26.3% |
| 5-year return | +222.9% | +95.4% |
| Volatility (ann.) | 43.9% | 19.6% |
| Beta vs S&P 500 | 1.69 | 1.28 |
| Max drawdown (3Y) | -39.9% | -22.8% |
| Market cap | $11.5B | – |
| P/E (trailing) | 52.4 | – |
| Dividend yield | 0.14% | 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 | AEIS | QQQ |
|---|---|---|
| 2022 | -5.4% | -32.6% |
| 2023 | +27.5% | +54.9% |
| 2024 | +6.6% | +25.6% |
| 2025 | +81.6% | +20.8% |
| 2026 | +37.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEIS and QQQ good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AEIS and QQQ?
As of 2026-08-27, the correlation of weekly returns between AEIS and QQQ is 0.57 over 3 years, 0.30 over 1 year and 0.60 over 5 years.
Is QQQ a good diversifier for AEIS?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: AEIS correlations · QQQ correlations
