AME vs QQQ: Correlation
Measured on weekly returns over the past three years, Ametek (AME) and Invesco QQQ Trust (QQQ) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and QQQ?
Over the past 3 years, AME and QQQ moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.52). Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 208.3 %².
Within AME's tracked universe of 31 assets, QQQ comes in at #20 by 3-year correlation. On 12-month performance AME holds a 5.1-point edge, +31.4% against +26.3%. The rolling one-year correlation moved between 0.33 and 0.72 over the past three years, a moderate range.
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.
AME vs QQQ: side by side
| AME (Ametek) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +31.4% | +26.3% |
| 5-year return | +83.6% | +95.4% |
| Volatility (ann.) | 20.4% | 19.6% |
| Beta vs S&P 500 | 0.84 | 1.28 |
| Max drawdown (3Y) | -23.0% | -22.8% |
| Market cap | $55.9B | – |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 0.53% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | AME | QQQ |
|---|---|---|
| 2022 | -4.3% | -32.6% |
| 2023 | +18.8% | +54.9% |
| 2024 | +10.0% | +25.6% |
| 2025 | +14.7% | +20.8% |
| 2026 | +19.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and QQQ good diversifiers for each other?
Only partially. A correlation of 0.52 means AME and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AME and QQQ?
The AME/QQQ correlation stands at 0.52 on a 3-year window (1 year: 0.40, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AME?
Only partially. A correlation of 0.52 means AME and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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/ame-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ame-vs-qqq/)
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Related comparisons
Hubs: AME correlations · QQQ correlations
