ALM vs QQQ: Correlation
How closely do Almonty Industries Inc. (ALM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALM and QQQ?
Across a 3-year window, the weekly returns of ALM and QQQ correlate at 0.22, weak. Lately the two have moved closer together, with the 1-year correlation at 0.41 versus 0.22 over 3 years. Stretching to 5 years gives 0.21, with an annualized covariance of 391.8 %².
QQQ is close to the least connected end of ALM's tracked universe, ranking #9 of 13. The last year tells two different stories: ALM led by 322.4 percentage points, +348.7% for ALM against +26.3% for QQQ. One caveat on sizing: ALM is 4.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALM vs QQQ: side by side
| ALM (Almonty Industries Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +348.7% | +26.3% |
| 5-year return | +1028.4% | +95.4% |
| Volatility (ann.) | 89.8% | 19.6% |
| Beta vs S&P 500 | 1.32 | 1.28 |
| Max drawdown (3Y) | -57.9% | -22.8% |
| Market cap | $5.4B | – |
| P/E (trailing) | 82.1 | – |
| 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 | ALM | QQQ |
|---|---|---|
| 2022 | -27.7% | -32.6% |
| 2023 | -19.7% | +54.9% |
| 2024 | +53.2% | +25.6% |
| 2025 | +526.5% | +20.8% |
| 2026 | +114.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALM and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALM and QQQ?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with 0.41 over the last year and 0.21 over 5 years.
Is QQQ a good diversifier for ALM?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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/alm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alm-vs-qqq/)
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Related comparisons
Hubs: ALM correlations · QQQ correlations
