APP vs QQQM: Correlation
How closely do AppLovin (APP) and Invesco Nasdaq 100 ETF (QQQM) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and QQQM?
On 3 years of weekly data the APP/QQQM correlation comes out at 0.55, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.55 over 3. The 5-year figure is 0.56, and annualized covariance runs at 895.4 %².
Among the 44 assets we track against APP, QQQM ranks #8 by 3-year correlation. The last year tells two different stories: QQQM led by 58.9 percentage points, -32.5% for APP against +26.4% for QQQM. Across three years, the rolling one-year figure varied moderately, from 0.30 to 0.73. One caveat on sizing: APP is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQM: side by side
| APP (AppLovin) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | -32.5% | +26.4% |
| 5-year return | +326.5% | +96.1% |
| Volatility (ann.) | 84.3% | 19.5% |
| Beta vs S&P 500 | 3.10 | 1.28 |
| Max drawdown (3Y) | -59.3% | -22.7% |
| Market cap | $105.0B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Communication Services | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | APP | QQQM |
|---|---|---|
| 2022 | -88.8% | -32.5% |
| 2023 | +278.4% | +55.0% |
| 2024 | +712.6% | +25.7% |
| 2025 | +108.1% | +20.9% |
| 2026 | -53.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
APP represents 0.42% of QQQM's portfolio, so part of any move in QQQM is APP itself, and the correlation between them is partly mechanical.
Are APP and QQQM good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APP and QQQM?
As of 2026-08-27, the correlation of weekly returns between APP and QQQM is 0.55 over 3 years, 0.48 over 1 year and 0.56 over 5 years.
Is QQQM a good diversifier for APP?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/app-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/app-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APP correlations · QQQM correlations
