AM vs QQQ: Correlation
Antero Midstream Corporation (AM) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.08.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AM and QQQ?
On 3 years of weekly data the AM/QQQ correlation comes out at 0.08, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.40) than the 3-year average (0.08). The 5-year figure is 0.24, and annualized covariance runs at 35.5 %².
Among the 15 assets we track against AM, QQQ ranks #10 by 3-year correlation. On 12-month performance AM holds a 6.8-point edge, +33.1% against +26.3%.
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.
AM vs QQQ: side by side
| AM (Antero Midstream Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +33.1% | +26.3% |
| 5-year return | +230.4% | +95.4% |
| Volatility (ann.) | 22.6% | 19.6% |
| Beta vs S&P 500 | 0.24 | 1.28 |
| Max drawdown (3Y) | -14.0% | -22.8% |
| Market cap | $10.7B | – |
| P/E (trailing) | 27.1 | – |
| Dividend yield | 3.98% | 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 | AM | QQQ |
|---|---|---|
| 2022 | +22.0% | -32.6% |
| 2023 | +25.7% | +54.9% |
| 2024 | +28.5% | +25.6% |
| 2025 | +24.4% | +20.8% |
| 2026 | +30.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AM and QQQ good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AM and QQQ?
The AM/QQQ correlation stands at 0.08 on a 3-year window (1 year: -0.40, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AM?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 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: AM correlations · QQQ correlations
