ALL vs QQQ: Correlation
Measured on weekly returns over the past three years, Allstate (ALL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALL and QQQ?
On 3 years of weekly data the ALL/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.20) than the 3-year average (0.04). The 5-year figure is 0.11, and annualized covariance runs at 15.3 %².
Within ALL's tracked universe of 32 assets, QQQ comes in at #22 by 3-year correlation. Neither side won the trailing year by much: +28.9% against +26.3%. The relationship is regime-dependent: the rolling one-year correlation swung between -0.24 and 0.44 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ALL vs QQQ: side by side
| ALL (Allstate) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +28.9% | +26.3% |
| 5-year return | +114.7% | +95.4% |
| Volatility (ann.) | 22.1% | 19.6% |
| Beta vs S&P 500 | 0.31 | 1.28 |
| Max drawdown (3Y) | -14.1% | -22.8% |
| Market cap | $65.1B | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 1.59% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | ALL | QQQ |
|---|---|---|
| 2022 | +18.4% | -32.6% |
| 2023 | +6.4% | +54.9% |
| 2024 | +40.6% | +25.6% |
| 2025 | +10.1% | +20.8% |
| 2026 | +25.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALL and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALL and QQQ?
The ALL/QQQ correlation stands at 0.04 on a 3-year window (1 year: -0.20, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALL?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/all-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/all-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALL correlations · QQQ correlations
