AGX vs QQQ: Correlation
Argan, Inc. (AGX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGX and QQQ?
On 3 years of weekly data the AGX/QQQ correlation comes out at 0.22, weak. The link has loosened recently: the 1-year correlation (0.06) runs below the 3-year figure (0.22). The 5-year figure is 0.23, and annualized covariance runs at 236.3 %².
Out of 11 assets tracked against AGX, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months AGX outperformed by 77.4 percentage points (+103.7% for AGX against +26.3% for QQQ). Note the risk asymmetry: AGX runs 2.9 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.
AGX vs QQQ: side by side
| AGX (Argan, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +103.7% | +26.3% |
| 5-year return | +1008.1% | +95.4% |
| Volatility (ann.) | 55.9% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -43.7% | -22.8% |
| Market cap | $6.4B | – |
| P/E (trailing) | 40.4 | – |
| Dividend yield | 0.41% | 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 | AGX | QQQ |
|---|---|---|
| 2022 | -2.0% | -32.6% |
| 2023 | +30.2% | +54.9% |
| 2024 | +198.3% | +25.6% |
| 2025 | +130.6% | +20.8% |
| 2026 | +47.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGX and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AGX and QQQ?
The AGX/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.06, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AGX?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
A reading of 0.22 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
$ curl https://www.pairbook.io/api/v1/pairs/agx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/agx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGX correlations · QQQ correlations
