ASG vs QQQ: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and QQQ?
On 3 years of weekly data the ASG/QQQ correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 294.1 %².
Among the 52 assets we track against ASG, QQQ ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 23.0 points (+3.3% versus +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.
ASG vs QQQ: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +3.3% | +26.3% |
| 5-year return | -5.6% | +95.4% |
| Volatility (ann.) | 18.3% | 19.6% |
| Beta vs S&P 500 | 1.12 | 1.28 |
| Max drawdown (3Y) | -25.3% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 8.76% | 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 | ASG | QQQ |
|---|---|---|
| 2022 | -40.9% | -32.6% |
| 2023 | +16.2% | +54.9% |
| 2024 | +16.8% | +25.6% |
| 2025 | +2.2% | +20.8% |
| 2026 | +6.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and QQQ good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASG and QQQ?
As of 2026-08-27, the correlation of weekly returns between ASG and QQQ is 0.82 over 3 years, 0.83 over 1 year and 0.80 over 5 years.
Is QQQ a good diversifier for ASG?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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: ASG correlations · QQQ correlations
