ASC vs QQQ: Correlation
Ardmore Shipping Corporation (ASC) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and QQQ?
Across a 3-year window, the weekly returns of ASC and QQQ correlate at 0.10, weak. Little has changed lately, as the 1-year reading of 0.17 lands near the 3-year figure. Stretching to 5 years gives 0.08, with an annualized covariance of 78.7 %².
By 3-year correlation, QQQ places #9 of the 14 assets tracked against ASC. Their recent paths diverged sharply: over the last 12 months ASC outperformed by 31.7 percentage points (+58.0% for ASC against +26.3% for QQQ). One caveat on sizing: ASC is 2.0 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.
ASC vs QQQ: side by side
| ASC (Ardmore Shipping Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +58.0% | +26.3% |
| 5-year return | +514.4% | +95.4% |
| Volatility (ann.) | 38.9% | 19.6% |
| Beta vs S&P 500 | 0.31 | 1.28 |
| Max drawdown (3Y) | -61.4% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 6.9 | – |
| Dividend yield | 8.07% | 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 | ASC | QQQ |
|---|---|---|
| 2022 | +326.3% | -32.6% |
| 2023 | +5.8% | +54.9% |
| 2024 | -8.2% | +25.6% |
| 2025 | -11.1% | +20.8% |
| 2026 | +71.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, ASC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASC and QQQ?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with 0.17 over the last year and 0.08 over 5 years.
Is QQQ a good diversifier for ASC?
Yes. With a correlation of 0.10, ASC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 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/asc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASC correlations · QQQ correlations
