ASB vs QQQ: Correlation
Measured on weekly returns over the past three years, Associated Banc-Corp (ASB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and QQQ?
On 3 years of weekly data the ASB/QQQ correlation comes out at 0.37, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.37 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 209.8 %².
Out of 47 assets tracked against ASB, QQQ lands near the bottom at #44. On 12-month performance QQQ holds a 7.8-point edge, +18.5% against +26.3%.
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.
ASB vs QQQ: side by side
| ASB (Associated Banc-Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.5% | +26.3% |
| 5-year return | +82.7% | +95.4% |
| Volatility (ann.) | 29.0% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -31.6% | -22.8% |
| Market cap | $5.8B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 3.08% | 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 | ASB | QQQ |
|---|---|---|
| 2022 | +6.0% | -32.6% |
| 2023 | -2.9% | +54.9% |
| 2024 | +16.2% | +25.6% |
| 2025 | +11.8% | +20.8% |
| 2026 | +21.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ASB and QQQ?
As of 2026-08-27, the correlation of weekly returns between ASB and QQQ is 0.37 over 3 years, 0.12 over 1 year and 0.35 over 5 years.
Is QQQ a good diversifier for ASB?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ASB correlations · QQQ correlations
