ALLY vs QQQ: Correlation
Measured on weekly returns over the past three years, Ally Financial Inc. (ALLY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLY and QQQ?
Across a 3-year window, the weekly returns of ALLY and QQQ correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 266.7 %².
Among the 14 assets we track against ALLY, QQQ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: QQQ led by 19.2 percentage points, +7.1% for ALLY against +26.3% for QQQ. Risk is not evenly split, since ALLY carries 1.8 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.
ALLY vs QQQ: side by side
| ALLY (Ally Financial Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +7.1% | +26.3% |
| 5-year return | -2.7% | +95.4% |
| Volatility (ann.) | 34.5% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -31.6% | -22.8% |
| Market cap | $13.0B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 2.82% | 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 | ALLY | QQQ |
|---|---|---|
| 2022 | -46.9% | -32.6% |
| 2023 | +49.2% | +54.9% |
| 2024 | +6.4% | +25.6% |
| 2025 | +29.9% | +20.8% |
| 2026 | -3.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLY and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALLY and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.41 over the last year and 0.47 over 5 years.
Is QQQ a good diversifier for ALLY?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALLY correlations · QQQ correlations
