AMBP vs QQQ: Correlation
Ardagh Metal Packaging S.A. (AMBP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBP and QQQ?
On 3 years of weekly data the AMBP/QQQ correlation comes out at 0.17, weak. The relationship has been stable: the 1-year correlation (0.10) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 143.9 %².
Out of 12 assets tracked against AMBP, QQQ lands near the bottom at #9. The last year tells two different stories: AMBP led by 20.7 percentage points, +47.0% for AMBP against +26.3% for QQQ. Note the risk asymmetry: AMBP runs 2.2 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.
AMBP vs QQQ: side by side
| AMBP (Ardagh Metal Packaging S.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +47.0% | +26.3% |
| 5-year return | -26.6% | +95.4% |
| Volatility (ann.) | 43.0% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -39.2% | -22.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 103.4 | – |
| Dividend yield | 7.65% | 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 | AMBP | QQQ |
|---|---|---|
| 2022 | -42.5% | -32.6% |
| 2023 | -11.5% | +54.9% |
| 2024 | -12.4% | +25.6% |
| 2025 | +49.2% | +20.8% |
| 2026 | +32.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBP and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMBP and QQQ?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.10 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for AMBP?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 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/ambp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ambp-vs-qqq/)
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Related comparisons
Hubs: AMBP correlations · QQQ correlations
