ALTO vs QQQ: Correlation
How closely do Alto Ingredients, Inc. (ALTO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and QQQ?
Over the past 3 years, ALTO and QQQ moved with a correlation of -0.01, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.17) than the 3-year average (-0.01). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is -23.3 %².
Among the 15 assets we track against ALTO, QQQ ranks #7 by 3-year correlation. The last year tells two different stories: ALTO led by 263.2 percentage points, +289.5% for ALTO against +26.3% for QQQ. Note the risk asymmetry: ALTO runs 4.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALTO vs QQQ: side by side
| ALTO (Alto Ingredients, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +289.5% | +26.3% |
| 5-year return | -16.4% | +95.4% |
| Volatility (ann.) | 93.7% | 19.6% |
| Beta vs S&P 500 | 0.15 | 1.28 |
| Max drawdown (3Y) | -84.1% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 6.1 | – |
| 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 | ALTO | QQQ |
|---|---|---|
| 2022 | -40.1% | -32.6% |
| 2023 | -7.6% | +54.9% |
| 2024 | -41.4% | +25.6% |
| 2025 | +84.6% | +20.8% |
| 2026 | +42.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and QQQ good diversifiers for each other?
Yes. With a correlation of -0.01, ALTO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALTO and QQQ?
As of 2026-08-27, the correlation of weekly returns between ALTO and QQQ is -0.01 over 3 years, -0.17 over 1 year and 0.09 over 5 years.
Is QQQ a good diversifier for ALTO?
Yes. With a correlation of -0.01, ALTO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.01 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.
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Related comparisons
Hubs: ALTO correlations · QQQ correlations
