AGCO vs QQQ: Correlation
Measured on weekly returns over the past three years, AGCO Corporation (AGCO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.23, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGCO and QQQ?
Over the past 3 years, AGCO and QQQ moved with a correlation of 0.23, which is weak. The past 12 months show a weaker link (-0.14) than the 3-year average (0.23). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 146.9 %².
Among the 15 assets we track against AGCO, QQQ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: QQQ led by 27.9 percentage points, -1.6% for AGCO against +26.3% for QQQ. Note the risk asymmetry: AGCO runs 1.7 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.
AGCO vs QQQ: side by side
| AGCO (AGCO Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.6% | +26.3% |
| 5-year return | -7.9% | +95.4% |
| Volatility (ann.) | 32.5% | 19.6% |
| Beta vs S&P 500 | 0.80 | 1.28 |
| Max drawdown (3Y) | -40.5% | -22.8% |
| Market cap | $7.8B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 1.05% | 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 | AGCO | QQQ |
|---|---|---|
| 2022 | +25.0% | -32.6% |
| 2023 | -7.9% | +54.9% |
| 2024 | -20.3% | +25.6% |
| 2025 | +12.9% | +20.8% |
| 2026 | +7.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGCO and QQQ good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AGCO and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with -0.14 over the last year and 0.30 over 5 years.
Is QQQ a good diversifier for AGCO?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 mean?
A reading of 0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGCO correlations · QQQ correlations
