APPS vs QQQ: Correlation
Digital Turbine, Inc. (APPS) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPS and QQQ?
Across a 3-year window, the weekly returns of APPS and QQQ correlate at 0.25, weak. Lately the two have moved closer together, with the 1-year correlation at 0.42 versus 0.25 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 642.3 %².
By 3-year correlation, QQQ places #8 of the 14 assets tracked against APPS. The last year tells two different stories: APPS led by 146.7 percentage points, +173.0% for APPS against +26.3% for QQQ. One caveat on sizing: APPS is 6.6 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.
APPS vs QQQ: side by side
| APPS (Digital Turbine, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +173.0% | +26.3% |
| 5-year return | -77.7% | +95.4% |
| Volatility (ann.) | 130.3% | 19.6% |
| Beta vs S&P 500 | 2.13 | 1.28 |
| Max drawdown (3Y) | -86.7% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| 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 | APPS | QQQ |
|---|---|---|
| 2022 | -75.0% | -32.6% |
| 2023 | -55.0% | +54.9% |
| 2024 | -75.4% | +25.6% |
| 2025 | +195.9% | +20.8% |
| 2026 | +128.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPS and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between APPS and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.42 over the last year and 0.37 over 5 years.
Is QQQ a good diversifier for APPS?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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/apps-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apps-vs-qqq/)
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Related comparisons
Hubs: APPS correlations · QQQ correlations
