AMN vs QQQ: Correlation
Measured on weekly returns over the past three years, AMN Healthcare Services Inc (AMN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMN and QQQ?
On 3 years of weekly data the AMN/QQQ correlation comes out at 0.12, weak. The link has tightened recently: the 1-year correlation (0.23) runs above the 3-year figure (0.12). The 5-year figure is 0.19, and annualized covariance runs at 128.9 %².
Out of 10 assets tracked against AMN, QQQ lands near the bottom at #7. The last year tells two different stories: AMN led by 48.1 percentage points, +74.4% for AMN against +26.3% for QQQ. Note the risk asymmetry: AMN 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.
AMN vs QQQ: side by side
| AMN (AMN Healthcare Services Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +74.4% | +26.3% |
| 5-year return | -68.4% | +95.4% |
| Volatility (ann.) | 57.2% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -83.2% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 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 | AMN | QQQ |
|---|---|---|
| 2022 | -15.9% | -32.6% |
| 2023 | -27.2% | +54.9% |
| 2024 | -68.1% | +25.6% |
| 2025 | -34.1% | +20.8% |
| 2026 | +122.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMN and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMN and QQQ?
As of 2026-08-27, the correlation of weekly returns between AMN and QQQ is 0.12 over 3 years, 0.23 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for AMN?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 mean?
On the −1 to +1 scale, 0.12 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
$ curl https://www.pairbook.io/api/v1/pairs/amn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amn-vs-qqq/)
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Related comparisons
Hubs: AMN correlations · QQQ correlations
