AMT vs QQQ: Correlation
How closely do American Tower (AMT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.00, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and QQQ?
On 3 years of weekly data the AMT/QQQ correlation comes out at 0.00, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.00 over 1 year against 0.00 over 3. The 5-year figure is 0.27, and annualized covariance runs at 1.1 %².
By 3-year correlation, QQQ places #20 of the 30 assets tracked against AMT. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 37.3 percentage points (-11.0% for AMT against +26.3% for QQQ). This link changes with the market regime, having swung between -0.25 and 0.61 on a rolling one-year basis.
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.
AMT vs QQQ: side by side
| AMT (American Tower) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.0% | +26.3% |
| 5-year return | -30.2% | +95.4% |
| Volatility (ann.) | 27.1% | 19.6% |
| Beta vs S&P 500 | 0.18 | 1.28 |
| Max drawdown (3Y) | -28.4% | -22.8% |
| Market cap | $81.2B | – |
| P/E (trailing) | 24.2 | – |
| Dividend yield | 3.97% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Real Estate | 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 | AMT | QQQ |
|---|---|---|
| 2022 | -25.7% | -32.6% |
| 2023 | +5.4% | +54.9% |
| 2024 | -12.2% | +25.6% |
| 2025 | -0.9% | +20.8% |
| 2026 | +1.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMT and QQQ?
As of 2026-08-27, the correlation of weekly returns between AMT and QQQ is 0.00 over 3 years, 0.00 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for AMT?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
What does a correlation of 0.00 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
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Related comparisons
Hubs: AMT correlations · QQQ correlations
