ALLE vs QQQ: Correlation
Allegion (ALLE) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and QQQ?
Across a 3-year window, the weekly returns of ALLE and QQQ correlate at 0.25, weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.25). Stretching to 5 years gives 0.41, with an annualized covariance of 116.7 %².
Within ALLE's tracked universe of 33 assets, QQQ comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 32.7 percentage points (-6.4% for ALLE against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between -0.06 and 0.63 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.
ALLE vs QQQ: side by side
| ALLE (Allegion) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.4% | +26.3% |
| 5-year return | +19.4% | +95.4% |
| Volatility (ann.) | 24.3% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -29.8% | -22.8% |
| Market cap | $13.6B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 1.32% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | ALLE | QQQ |
|---|---|---|
| 2022 | -19.3% | -32.6% |
| 2023 | +22.3% | +54.9% |
| 2024 | +4.7% | +25.6% |
| 2025 | +22.8% | +20.8% |
| 2026 | +1.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALLE and QQQ?
The ALLE/QQQ correlation stands at 0.25 on a 3-year window (1 year: -0.03, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALLE?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 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/alle-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alle-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALLE correlations · QQQ correlations
