AMSF vs QQQ: Correlation
How closely do AMERISAFE, Inc. (AMSF) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSF and QQQ?
On 3 years of weekly data the AMSF/QQQ correlation comes out at 0.01, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.04) sits close to the 3-year figure. The 5-year figure is 0.11, and annualized covariance runs at 7.0 %².
Within AMSF's tracked universe of 12 assets, QQQ comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 65.8 percentage points (-39.5% for AMSF 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.
AMSF vs QQQ: side by side
| AMSF (AMERISAFE, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -39.5% | +26.3% |
| 5-year return | -29.7% | +95.4% |
| Volatility (ann.) | 24.6% | 19.6% |
| Beta vs S&P 500 | 0.22 | 1.28 |
| Max drawdown (3Y) | -50.2% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 6.09% | 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 | AMSF | QQQ |
|---|---|---|
| 2022 | +6.1% | -32.6% |
| 2023 | -0.9% | +54.9% |
| 2024 | +19.6% | +25.6% |
| 2025 | -20.8% | +20.8% |
| 2026 | -30.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSF and QQQ good diversifiers for each other?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMSF and QQQ?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with -0.04 over the last year and 0.11 over 5 years.
Is QQQ a good diversifier for AMSF?
Yes: at 0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.01 mean?
A reading of 0.01 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amsf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amsf-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMSF correlations · QQQ correlations
