AMZN vs QQQ: Correlation
Measured on weekly returns over the past three years, Amazon (AMZN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and QQQ?
Across a 3-year window, the weekly returns of AMZN and QQQ correlate at 0.70, strong. The link has loosened recently: the 1-year correlation (0.57) runs below the 3-year figure (0.70). Stretching to 5 years gives 0.75, with an annualized covariance of 423.6 %².
Among the 38 assets we track against AMZN, QQQ ranks #5 by 3-year correlation. Over the last 12 months QQQ came out ahead by 14.5 percentage points (+11.8% against +26.3%). The rolling one-year correlation moved between 0.58 and 0.83 over the past three years, a moderate range. Note the risk asymmetry: AMZN runs 1.6 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.
AMZN vs QQQ: side by side
| AMZN (Amazon) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.8% | +26.3% |
| 5-year return | +49.8% | +95.4% |
| Volatility (ann.) | 31.0% | 19.6% |
| Beta vs S&P 500 | 1.48 | 1.28 |
| Max drawdown (3Y) | -30.9% | -22.8% |
| Market cap | $2,764.1B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | AMZN | QQQ |
|---|---|---|
| 2022 | -49.6% | -32.6% |
| 2023 | +80.9% | +54.9% |
| 2024 | +44.4% | +25.6% |
| 2025 | +5.2% | +20.8% |
| 2026 | +11.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AMZN represents 4.5% of QQQ's portfolio, so part of any move in QQQ is AMZN itself, and the correlation between them is partly mechanical.
Are AMZN and QQQ good diversifiers for each other?
Only partially. A correlation of 0.70 means AMZN and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMZN and QQQ?
The AMZN/QQQ correlation stands at 0.70 on a 3-year window (1 year: 0.57, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AMZN?
Only partially. A correlation of 0.70 means AMZN and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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
$ curl https://www.pairbook.io/api/v1/pairs/amzn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amzn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMZN correlations · QQQ correlations
