APPF vs QQQ: Correlation
Measured on weekly returns over the past three years, AppFolio, Inc. (APPF) 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 APPF and QQQ?
On 3 years of weekly data the APPF/QQQ correlation comes out at 0.22, weak. Recent behaviour matches the longer record: 0.20 over 1 year against 0.22 over 3. The 5-year figure is 0.34, and annualized covariance runs at 182.3 %².
Within APPF's tracked universe of 13 assets, QQQ comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 42.3 percentage points (-16.0% for APPF against +26.3% for QQQ). Risk is not evenly split, since APPF carries 2.1 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.
APPF vs QQQ: side by side
| APPF (AppFolio, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -16.0% | +26.3% |
| 5-year return | +93.0% | +95.4% |
| Volatility (ann.) | 41.6% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -55.4% | -22.8% |
| Market cap | $8.2B | – |
| P/E (trailing) | 50.8 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | 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 | APPF | QQQ |
|---|---|---|
| 2022 | -13.0% | -32.6% |
| 2023 | +64.4% | +54.9% |
| 2024 | +42.4% | +25.6% |
| 2025 | -5.7% | +20.8% |
| 2026 | -0.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPF and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APPF and QQQ?
The APPF/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.20, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for APPF?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.22 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/appf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/appf-vs-qqq/)
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Related comparisons
Hubs: APPF correlations · QQQ correlations
