ALRS vs QQQ: Correlation
How closely do Alerus Financial Corporation (ALRS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALRS and QQQ?
Over the past 3 years, ALRS and QQQ moved with a correlation of 0.29, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.29 over 3 years. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 178.7 %².
Among the 16 assets we track against ALRS, QQQ sits near the bottom by co-movement, at rank #13. The last year tells two different stories: ALRS led by 26.9 percentage points, +53.2% for ALRS against +26.3% for QQQ. One caveat on sizing: ALRS is 1.6 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.
ALRS vs QQQ: side by side
| ALRS (Alerus Financial Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +53.2% | +26.3% |
| 5-year return | +33.2% | +95.4% |
| Volatility (ann.) | 31.4% | 19.6% |
| Beta vs S&P 500 | 0.88 | 1.28 |
| Max drawdown (3Y) | -32.5% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 2.56% | 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 | ALRS | QQQ |
|---|---|---|
| 2022 | -17.9% | -32.6% |
| 2023 | -0.2% | +54.9% |
| 2024 | -10.7% | +25.6% |
| 2025 | +21.7% | +20.8% |
| 2026 | +50.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALRS and QQQ good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALRS and QQQ?
The ALRS/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.05, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ALRS?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 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
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Related comparisons
Hubs: ALRS correlations · QQQ correlations
