AMS vs QQQ: Correlation
American Shared Hospital Services (AMS) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMS and QQQ?
On 3 years of weekly data the AMS/QQQ correlation comes out at 0.11, weak. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. The 5-year figure is 0.16, and annualized covariance runs at 103.5 %².
Among the 11 assets we track against AMS, QQQ ranks #6 by 3-year correlation. The last year tells two different stories: QQQ led by 67.0 percentage points, -40.7% for AMS against +26.3% for QQQ. Note the risk asymmetry: AMS runs 2.4 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.
AMS vs QQQ: side by side
| AMS (American Shared Hospital Services) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -40.7% | +26.3% |
| 5-year return | -45.7% | +95.4% |
| Volatility (ann.) | 46.6% | 19.6% |
| Beta vs S&P 500 | 0.34 | 1.28 |
| Max drawdown (3Y) | -64.2% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | AMS | QQQ |
|---|---|---|
| 2022 | +23.6% | -32.6% |
| 2023 | -18.8% | +54.9% |
| 2024 | +34.0% | +25.6% |
| 2025 | -33.9% | +20.8% |
| 2026 | -30.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMS and QQQ good diversifiers for each other?
Yes. With a correlation of 0.11, AMS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMS and QQQ?
The AMS/QQQ correlation stands at 0.11 on a 3-year window (1 year: 0.21, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AMS?
Yes. With a correlation of 0.11, AMS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
A reading of 0.11 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AMS correlations · QQQ correlations
