ALSN vs QQQ: Correlation
Measured on weekly returns over the past three years, Allison Transmission Holdings, Inc. (ALSN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALSN and QQQ?
Across a 3-year window, the weekly returns of ALSN and QQQ correlate at 0.28, weak. The past 12 months show a weaker link (0.06) than the 3-year average (0.28). Stretching to 5 years gives 0.30, with an annualized covariance of 164.9 %².
Out of 12 assets tracked against ALSN, QQQ lands near the bottom at #9. The last year tells two different stories: ALSN led by 20.0 percentage points, +46.3% for ALSN against +26.3% for QQQ. One caveat on sizing: ALSN is 1.5 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.
ALSN vs QQQ: side by side
| ALSN (Allison Transmission Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +46.3% | +26.3% |
| 5-year return | +271.5% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 0.81 | 1.28 |
| Max drawdown (3Y) | -33.6% | -22.8% |
| Market cap | $10.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.87% | 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 | ALSN | QQQ |
|---|---|---|
| 2022 | +16.9% | -32.6% |
| 2023 | +42.3% | +54.9% |
| 2024 | +88.0% | +25.6% |
| 2025 | -8.3% | +20.8% |
| 2026 | +32.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALSN and QQQ good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALSN and QQQ?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.06 over the last year and 0.30 over 5 years.
Is QQQ a good diversifier for ALSN?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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/alsn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alsn-vs-qqq/)
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Related comparisons
Hubs: ALSN correlations · QQQ correlations
