AQST vs QQQ: Correlation
Measured on weekly returns over the past three years, Aquestive Therapeutics, Inc. (AQST) and Invesco QQQ Trust (QQQ) carry a correlation of 0.11, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQST and QQQ?
On 3 years of weekly data the AQST/QQQ correlation comes out at 0.11, weak. Recent behaviour matches the longer record: 0.06 over 1 year against 0.11 over 3. The 5-year figure is 0.22, and annualized covariance runs at 181.3 %².
QQQ is close to the least connected end of AQST's tracked universe, ranking #7 of 11. Over the last 12 months AQST came out ahead by 7.7 percentage points (+34.0% against +26.3%). One caveat on sizing: AQST is 4.4 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.
AQST vs QQQ: side by side
| AQST (Aquestive Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.0% | +26.3% |
| 5-year return | +10.7% | +95.4% |
| Volatility (ann.) | 85.7% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -63.5% | -22.8% |
| Market cap | $0.6B | – |
| 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 | AQST | QQQ |
|---|---|---|
| 2022 | -76.8% | -32.6% |
| 2023 | +123.9% | +54.9% |
| 2024 | +76.2% | +25.6% |
| 2025 | +81.5% | +20.8% |
| 2026 | -20.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQST and QQQ good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AQST and QQQ?
Using weekly returns as of 2026-08-27: 0.11 over 3 years, with 0.06 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for AQST?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
A reading of 0.11 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/aqst-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aqst-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AQST correlations · QQQ correlations
