AES vs QQQ: Correlation
How closely do AES Corporation (AES) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and QQQ?
Across a 3-year window, the weekly returns of AES and QQQ correlate at 0.20, weak. The past 12 months show a weaker link (0.06) than the 3-year average (0.20). Stretching to 5 years gives 0.32, with an annualized covariance of 157.3 %².
Within AES's tracked universe of 31 assets, QQQ comes in at #21 by 3-year correlation. The trailing year gives QQQ the advantage: +15.9% versus +26.3%, a 10.4-point spread. Across three years, the rolling one-year figure varied moderately, from 0.06 to 0.45. Note the risk asymmetry: AES runs 2.1 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.
AES vs QQQ: side by side
| AES (AES Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.9% | +26.3% |
| 5-year return | -25.1% | +95.4% |
| Volatility (ann.) | 40.5% | 19.6% |
| Beta vs S&P 500 | 0.86 | 1.28 |
| Max drawdown (3Y) | -53.3% | -22.8% |
| Market cap | $10.5B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 4.78% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | AES | QQQ |
|---|---|---|
| 2022 | +21.7% | -32.6% |
| 2023 | -30.9% | +54.9% |
| 2024 | -30.4% | +25.6% |
| 2025 | +18.3% | +20.8% |
| 2026 | +6.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AES and QQQ?
The AES/QQQ correlation stands at 0.20 on a 3-year window (1 year: 0.06, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AES?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 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/aes-vs-qqq.json
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Related comparisons
Hubs: AES correlations · QQQ correlations
