APD vs QQQ: Correlation
Measured on weekly returns over the past three years, Air Products (APD) and Invesco QQQ Trust (QQQ) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and QQQ?
Over the past 3 years, APD and QQQ moved with a correlation of 0.22, which is weak. The past 12 months show a weaker link (-0.01) than the 3-year average (0.22). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 113.6 %².
Among the 33 assets we track against APD, QQQ ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 19.8 points (+6.5% versus +26.3%). This link changes with the market regime, having swung between -0.02 and 0.52 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.
APD vs QQQ: side by side
| APD (Air Products) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.5% | +26.3% |
| 5-year return | +28.2% | +95.4% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -30.4% | -22.8% |
| Market cap | $68.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.35% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Materials | 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 | APD | QQQ |
|---|---|---|
| 2022 | +3.9% | -32.6% |
| 2023 | -9.0% | +54.9% |
| 2024 | +8.1% | +25.6% |
| 2025 | -12.7% | +20.8% |
| 2026 | +26.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APD and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APD and QQQ?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with -0.01 over the last year and 0.33 over 5 years.
Is QQQ a good diversifier for APD?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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/apd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apd-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APD correlations · QQQ correlations
