ANET vs QQQ: Correlation
How closely do Arista Networks (ANET) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and QQQ?
Over the past 3 years, ANET and QQQ moved with a correlation of 0.66, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.66 over 3 years. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 634.5 %².
Within ANET's tracked universe of 35 assets, QQQ comes in at #5 by 3-year correlation. The last year tells two different stories: ANET led by 24.6 percentage points, +50.9% for ANET against +26.3% for QQQ. This link changes with the market regime, having swung between 0.27 and 0.79 on a rolling one-year basis. Note the risk asymmetry: ANET runs 2.5 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.
ANET vs QQQ: side by side
| ANET (Arista Networks) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +50.9% | +26.3% |
| 5-year return | +764.7% | +95.4% |
| Volatility (ann.) | 49.3% | 19.6% |
| Beta vs S&P 500 | 2.20 | 1.28 |
| Max drawdown (3Y) | -50.4% | -22.8% |
| Market cap | $253.6B | – |
| P/E (trailing) | 64.0 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | ANET | QQQ |
|---|---|---|
| 2022 | -15.6% | -32.6% |
| 2023 | +94.1% | +54.9% |
| 2024 | +87.7% | +25.6% |
| 2025 | +18.5% | +20.8% |
| 2026 | +53.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and QQQ good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ANET and QQQ?
As of 2026-08-27, the correlation of weekly returns between ANET and QQQ is 0.66 over 3 years, 0.46 over 1 year and 0.59 over 5 years.
Is QQQ a good diversifier for ANET?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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: ANET correlations · QQQ correlations
