APP vs QQQ: Correlation
How closely do AppLovin (APP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and QQQ?
On 3 years of weekly data the APP/QQQ correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 897.8 %².
Among the 44 assets we track against APP, QQQ ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 58.8 percentage points (-32.5% for APP against +26.3% for QQQ). The rolling one-year correlation moved between 0.31 and 0.72 over the past three years, a moderate range. Risk is not evenly split, since APP carries 4.3 times the volatility of the other side.
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.
APP vs QQQ: side by side
| APP (AppLovin) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -32.5% | +26.3% |
| 5-year return | +326.5% | +95.4% |
| Volatility (ann.) | 84.3% | 19.6% |
| Beta vs S&P 500 | 3.10 | 1.28 |
| Max drawdown (3Y) | -59.3% | -22.8% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Communication Services | 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 | APP | QQQ |
|---|---|---|
| 2022 | -88.8% | -32.6% |
| 2023 | +278.4% | +54.9% |
| 2024 | +712.6% | +25.6% |
| 2025 | +108.1% | +20.8% |
| 2026 | -53.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds APP at a 0.42% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are APP and QQQ good diversifiers for each other?
Only partially. A correlation of 0.54 means APP 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 APP and QQQ?
As of 2026-08-27, the correlation of weekly returns between APP and QQQ is 0.54 over 3 years, 0.48 over 1 year and 0.56 over 5 years.
Is QQQ a good diversifier for APP?
Only partially. A correlation of 0.54 means APP 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 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/app-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/app-vs-qqq/)
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Related comparisons
Hubs: APP correlations · QQQ correlations
