AMAL vs QQQ: Correlation
Amalgamated Financial Corp. (AMAL) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAL and QQQ?
Over the past 3 years, AMAL and QQQ moved with a correlation of 0.27, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.04 versus 0.27 over 3 years. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 171.1 %².
QQQ is close to the least connected end of AMAL's tracked universe, ranking #8 of 11. The last year tells two different stories: AMAL led by 40.4 percentage points, +66.7% for AMAL against +26.3% for QQQ. Risk is not evenly split, since AMAL carries 1.6 times the volatility of the other side.
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.
AMAL vs QQQ: side by side
| AMAL (Amalgamated Financial Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +66.7% | +26.3% |
| 5-year return | +247.4% | +95.4% |
| Volatility (ann.) | 32.0% | 19.6% |
| Beta vs S&P 500 | 0.84 | 1.28 |
| Max drawdown (3Y) | -32.8% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.34% | 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 | AMAL | QQQ |
|---|---|---|
| 2022 | +39.8% | -32.6% |
| 2023 | +19.4% | +54.9% |
| 2024 | +26.3% | +25.6% |
| 2025 | -2.5% | +20.8% |
| 2026 | +53.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAL and QQQ good diversifiers for each other?
Reasonably. At 0.27, AMAL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AMAL and QQQ?
The AMAL/QQQ correlation stands at 0.27 on a 3-year window (1 year: 0.04, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AMAL?
Reasonably. At 0.27, AMAL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 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
$ curl https://www.pairbook.io/api/v1/pairs/amal-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amal-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMAL correlations · QQQ correlations
