AON vs QQQ: Correlation
Aon plc (AON) 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 AON and QQQ?
On 3 years of weekly data the AON/QQQ correlation comes out at 0.11, weak. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.11). The 5-year figure is 0.31, and annualized covariance runs at 44.7 %².
Within AON's tracked universe of 32 assets, QQQ comes in at #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 30.9 points (-4.6% versus +26.3%). On a rolling one-year basis the correlation drifted between -0.06 and 0.39, a moderate band.
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.
AON vs QQQ: side by side
| AON (Aon plc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -4.6% | +26.3% |
| 5-year return | +27.0% | +95.4% |
| Volatility (ann.) | 21.7% | 19.6% |
| Beta vs S&P 500 | 0.34 | 1.28 |
| Max drawdown (3Y) | -24.2% | -22.8% |
| Market cap | $74.2B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.86% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | AON | QQQ |
|---|---|---|
| 2022 | +0.6% | -32.6% |
| 2023 | -2.3% | +54.9% |
| 2024 | +24.5% | +25.6% |
| 2025 | -1.2% | +20.8% |
| 2026 | -0.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AON and QQQ good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AON and QQQ?
Using weekly returns as of 2026-08-27: 0.11 over 3 years, with -0.02 over the last year and 0.31 over 5 years.
Is QQQ a good diversifier for AON?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 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/aon-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aon-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AON correlations · QQQ correlations
