AIRT vs QQQ: Correlation
Measured on weekly returns over the past three years, Air T, Inc. (AIRT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and QQQ?
Over the past 3 years, AIRT and QQQ moved with a correlation of 0.01, which is near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.22) runs above the 3-year figure (0.01). Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 10.6 %².
By 3-year correlation, QQQ places #6 of the 12 assets tracked against AIRT. The trailing year gives AIRT the advantage: +41.2% versus +26.3%, a 14.9-point spread. Note the risk asymmetry: AIRT runs 2.6 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.
AIRT vs QQQ: side by side
| AIRT (Air T, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +41.2% | +26.3% |
| 5-year return | -4.1% | +95.4% |
| Volatility (ann.) | 51.1% | 19.6% |
| Beta vs S&P 500 | 0.05 | 1.28 |
| Max drawdown (3Y) | -49.3% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.3 | – |
| 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 | AIRT | QQQ |
|---|---|---|
| 2022 | -1.7% | -32.6% |
| 2023 | -31.6% | +54.9% |
| 2024 | +18.0% | +25.6% |
| 2025 | -4.3% | +20.8% |
| 2026 | +70.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIRT and QQQ?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with 0.22 over the last year and 0.08 over 5 years.
Is QQQ a good diversifier for AIRT?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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/airt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airt-vs-qqq/)
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Related comparisons
Hubs: AIRT correlations · QQQ correlations
