AIOT vs QQQ: Correlation
Measured on weekly returns over the past three years, PowerFleet, Inc. (AIOT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIOT and QQQ?
On 3 years of weekly data the AIOT/QQQ correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 635.1 %².
Within AIOT's tracked universe of 14 assets, QQQ comes in at #7 by 3-year correlation. The last year tells two different stories: QQQ led by 63.8 percentage points, -37.5% for AIOT against +26.3% for QQQ. Note the risk asymmetry: AIOT runs 3.4 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.
AIOT vs QQQ: side by side
| AIOT (PowerFleet, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -37.5% | +26.3% |
| 5-year return | -57.4% | +95.4% |
| Volatility (ann.) | 67.2% | 19.6% |
| Beta vs S&P 500 | 2.51 | 1.28 |
| Max drawdown (3Y) | -67.2% | -22.8% |
| Market cap | $0.4B | – |
| 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 | AIOT | QQQ |
|---|---|---|
| 2022 | -43.2% | -32.6% |
| 2023 | +27.1% | +54.9% |
| 2024 | +94.7% | +25.6% |
| 2025 | -20.1% | +20.8% |
| 2026 | -43.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIOT and QQQ good diversifiers for each other?
Reasonably. At 0.48, AIOT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIOT and QQQ?
As of 2026-08-27, the correlation of weekly returns between AIOT and QQQ is 0.48 over 3 years, 0.48 over 1 year and 0.40 over 5 years.
Is QQQ a good diversifier for AIOT?
Reasonably. At 0.48, AIOT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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
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Related comparisons
Hubs: AIOT correlations · QQQ correlations
