AQMS vs QQQ: Correlation
Measured on weekly returns over the past three years, Aqua Metals, Inc. (AQMS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQMS and QQQ?
On 3 years of weekly data the AQMS/QQQ correlation comes out at 0.20, weak. Little has changed lately, as the 1-year reading of 0.19 lands near the 3-year figure. The 5-year figure is 0.19, and annualized covariance runs at 516.6 %².
Within AQMS's tracked universe of 15 assets, QQQ comes in at #10 by 3-year correlation. The last year tells two different stories: QQQ led by 52.2 percentage points, -25.9% for AQMS against +26.3% for QQQ. One caveat on sizing: AQMS is 6.8 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.
AQMS vs QQQ: side by side
| AQMS (Aqua Metals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -25.9% | +26.3% |
| 5-year return | -99.4% | +95.4% |
| Volatility (ann.) | 132.6% | 19.6% |
| Beta vs S&P 500 | 1.86 | 1.28 |
| Max drawdown (3Y) | -98.9% | -22.8% |
| Market cap | – | – |
| 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 | AQMS | QQQ |
|---|---|---|
| 2022 | +1.6% | -32.6% |
| 2023 | -39.2% | +54.9% |
| 2024 | -83.4% | +25.6% |
| 2025 | -81.0% | +20.8% |
| 2026 | -41.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQMS and QQQ good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AQMS and QQQ?
As of 2026-08-27, the correlation of weekly returns between AQMS and QQQ is 0.20 over 3 years, 0.19 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for AQMS?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 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/aqms-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aqms-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AQMS correlations · QQQ correlations
