AFL vs QQQ: Correlation
Measured on weekly returns over the past three years, Aflac (AFL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and QQQ?
Over the past 3 years, AFL and QQQ moved with a correlation of 0.09, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.22 versus 0.09 over 3 years. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 32.6 %².
By 3-year correlation, QQQ places #22 of the 32 assets tracked against AFL. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 15.5 percentage points (+10.8% for AFL against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between -0.27 and 0.36 over the past three years, so this pair behaves very differently depending on the market environment.
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.
AFL vs QQQ: side by side
| AFL (Aflac) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.8% | +26.3% |
| 5-year return | +131.3% | +95.4% |
| Volatility (ann.) | 19.2% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -13.6% | -22.8% |
| Market cap | $58.4B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 2.03% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | AFL | QQQ |
|---|---|---|
| 2022 | +26.4% | -32.6% |
| 2023 | +17.4% | +54.9% |
| 2024 | +28.1% | +25.6% |
| 2025 | +8.9% | +20.8% |
| 2026 | +7.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between AFL and QQQ?
Using weekly returns as of 2026-08-27: 0.09 over 3 years, with -0.22 over the last year and 0.28 over 5 years.
Is QQQ a good diversifier for AFL?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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/afl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/afl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFL correlations · QQQ correlations
