APA vs QQQ: Correlation
APA Corporation (APA) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.04.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APA and QQQ?
Across a 3-year window, the weekly returns of APA and QQQ correlate at 0.04, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus 0.04 over 3 years. Stretching to 5 years gives 0.10, with an annualized covariance of 35.6 %².
By 3-year correlation, QQQ places #33 of the 43 assets tracked against APA. The last year tells two different stories: APA led by 67.8 percentage points, +94.1% for APA against +26.3% for QQQ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.39 and 0.46 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: APA runs 2.1 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.
APA vs QQQ: side by side
| APA (APA Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +94.1% | +26.3% |
| 5-year return | +164.2% | +95.4% |
| Volatility (ann.) | 41.8% | 19.6% |
| Beta vs S&P 500 | 0.38 | 1.28 |
| Max drawdown (3Y) | -67.4% | -22.8% |
| Market cap | $14.8B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.43% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Energy | 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 | APA | QQQ |
|---|---|---|
| 2022 | +76.4% | -32.6% |
| 2023 | -21.2% | +54.9% |
| 2024 | -33.4% | +25.6% |
| 2025 | +11.5% | +20.8% |
| 2026 | +77.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APA and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APA and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with -0.39 over the last year and 0.10 over 5 years.
Is QQQ a good diversifier for APA?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apa-vs-qqq/)
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Related comparisons
Hubs: APA correlations · QQQ correlations
