AMG vs QQQ: Correlation
Affiliated Managers Group, Inc. (AMG) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMG and QQQ?
On 3 years of weekly data the AMG/QQQ correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.36). The 5-year figure is 0.52, and annualized covariance runs at 186.1 %².
Out of 13 assets tracked against AMG, QQQ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months AMG outperformed by 36.4 percentage points (+62.7% for AMG against +26.3% for QQQ).
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.
AMG vs QQQ: side by side
| AMG (Affiliated Managers Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +62.7% | +26.3% |
| 5-year return | +116.5% | +95.4% |
| Volatility (ann.) | 26.6% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -27.0% | -22.8% |
| Market cap | $9.6B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 0.01% | 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 | AMG | QQQ |
|---|---|---|
| 2022 | -3.7% | -32.6% |
| 2023 | -4.4% | +54.9% |
| 2024 | +22.2% | +25.6% |
| 2025 | +55.9% | +20.8% |
| 2026 | +28.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMG and QQQ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AMG and QQQ?
As of 2026-08-27, the correlation of weekly returns between AMG and QQQ is 0.36 over 3 years, 0.19 over 1 year and 0.52 over 5 years.
Is QQQ a good diversifier for AMG?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: AMG correlations · QQQ correlations
