AMD vs QQQM: Correlation
Advanced Micro Devices (AMD) and Invesco Nasdaq 100 ETF (QQQM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMD and QQQM?
On 3 years of weekly data the AMD/QQQM correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.49 versus 0.62 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 672.1 %².
Among the 33 assets we track against AMD, QQQM ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AMD outperformed by 158.8 percentage points (+185.2% for AMD against +26.4% for QQQM). On a rolling one-year basis the correlation drifted between 0.40 and 0.84, a moderate band. Note the risk asymmetry: AMD runs 2.9 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.
AMD vs QQQM: side by side
| AMD (Advanced Micro Devices) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +185.2% | +26.4% |
| 5-year return | +328.2% | +96.1% |
| Volatility (ann.) | 55.7% | 19.5% |
| Beta vs S&P 500 | 2.04 | 1.28 |
| Max drawdown (3Y) | -63.0% | -22.7% |
| Market cap | $778.2B | – |
| P/E (trailing) | 121.9 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | AMD | QQQM |
|---|---|---|
| 2022 | -55.0% | -32.5% |
| 2023 | +127.6% | +55.0% |
| 2024 | -18.1% | +25.7% |
| 2025 | +77.3% | +20.9% |
| 2026 | +122.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AMD represents 3.48% of QQQM's portfolio, so part of any move in QQQM is AMD itself, and the correlation between them is partly mechanical.
Are AMD and QQQM good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AMD and QQQM?
The AMD/QQQM correlation stands at 0.62 on a 3-year window (1 year: 0.49, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is QQQM a good diversifier for AMD?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 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/amd-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amd-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMD correlations · QQQM correlations
