AEVA vs QQQ: Correlation
Measured on weekly returns over the past three years, Aeva Technologies, Inc. (AEVA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEVA and QQQ?
On 3 years of weekly data the AEVA/QQQ correlation comes out at 0.30, moderate. The link has tightened recently: the 1-year correlation (0.41) runs above the 3-year figure (0.30). The 5-year figure is 0.37, and annualized covariance runs at 752.7 %².
By 3-year correlation, QQQ places #9 of the 14 assets tracked against AEVA. The last year tells two different stories: QQQ led by 22.4 percentage points, +3.9% for AEVA against +26.3% for QQQ. Note the risk asymmetry: AEVA runs 6.5 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.
AEVA vs QQQ: side by side
| AEVA (Aeva Technologies, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.9% | +26.3% |
| 5-year return | -66.2% | +95.4% |
| Volatility (ann.) | 127.6% | 19.6% |
| Beta vs S&P 500 | 2.96 | 1.28 |
| Max drawdown (3Y) | -75.7% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | AEVA | QQQ |
|---|---|---|
| 2022 | -82.0% | -32.6% |
| 2023 | -44.3% | +54.9% |
| 2024 | +25.3% | +25.6% |
| 2025 | +179.6% | +20.8% |
| 2026 | +23.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEVA and QQQ good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AEVA and QQQ?
As of 2026-08-27, the correlation of weekly returns between AEVA and QQQ is 0.30 over 3 years, 0.41 over 1 year and 0.37 over 5 years.
Is QQQ a good diversifier for AEVA?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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
$ curl https://www.pairbook.io/api/v1/pairs/aeva-vs-qqq.json
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[](https://www.pairbook.io/pair/aeva-vs-qqq/)
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Related comparisons
Hubs: AEVA correlations · QQQ correlations
