ALAB vs QQQ: Correlation
Measured on weekly returns over the past three years, Astera Labs, Inc. (ALAB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALAB and QQQ?
On 3 years of weekly data the ALAB/QQQ correlation comes out at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 912.5 %².
Among the 18 assets we track against ALAB, QQQ ranks #6 by 3-year correlation. The last year tells two different stories: ALAB led by 43.4 percentage points, +69.7% for ALAB against +26.3% for QQQ. Risk is not evenly split, since ALAB carries 4.3 times the volatility of the other side.
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.
ALAB vs QQQ: side by side
| ALAB (Astera Labs, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +69.7% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 84.6% | 19.6% |
| Beta vs S&P 500 | 2.90 | 1.28 |
| Max drawdown (3Y) | -63.7% | -22.8% |
| Market cap | $52.8B | – |
| P/E (trailing) | 142.8 | – |
| 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 | ALAB | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | – | +25.6% |
| 2025 | +25.6% | +20.8% |
| 2026 | +82.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds ALAB at a 0.22% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ALAB and QQQ good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ALAB and QQQ?
As of 2026-08-27, the correlation of weekly returns between ALAB and QQQ is 0.53 over 3 years, 0.48 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for ALAB?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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
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Related comparisons
Hubs: ALAB correlations · QQQ correlations
