AEO vs QQQ: Correlation
American Eagle Outfitters, Inc. (AEO) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEO and QQQ?
Over the past 3 years, AEO and QQQ moved with a correlation of 0.27, which is weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.27 over 3. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 282.5 %².
Among the 14 assets we track against AEO, QQQ sits near the bottom by co-movement, at rank #11. Neither side won the trailing year by much: +29.7% against +26.3%. Note the risk asymmetry: AEO runs 2.8 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.
AEO vs QQQ: side by side
| AEO (American Eagle Outfitters, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.7% | +26.3% |
| 5-year return | -39.1% | +95.4% |
| Volatility (ann.) | 54.2% | 19.6% |
| Beta vs S&P 500 | 1.21 | 1.28 |
| Max drawdown (3Y) | -63.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.84% | 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 | AEO | QQQ |
|---|---|---|
| 2022 | -43.4% | -32.6% |
| 2023 | +54.9% | +54.9% |
| 2024 | -19.3% | +25.6% |
| 2025 | +64.7% | +20.8% |
| 2026 | -35.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEO and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AEO and QQQ?
As of 2026-08-27, the correlation of weekly returns between AEO and QQQ is 0.27 over 3 years, 0.19 over 1 year and 0.33 over 5 years.
Is QQQ a good diversifier for AEO?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: AEO correlations · QQQ correlations
