ASH vs QQQ: Correlation
Ashland Inc. (ASH) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASH and QQQ?
On 3 years of weekly data the ASH/QQQ correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.36 over 3. The 5-year figure is 0.43, and annualized covariance runs at 222.5 %².
QQQ is close to the least connected end of ASH's tracked universe, ranking #9 of 12. Over the last 12 months ASH came out ahead by 8.4 percentage points (+34.7% against +26.3%). Risk is not evenly split, since ASH carries 1.6 times the volatility of the other side.
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.
ASH vs QQQ: side by side
| ASH (Ashland Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.7% | +26.3% |
| 5-year return | -6.5% | +95.4% |
| Volatility (ann.) | 31.6% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -53.3% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 47.7 | – |
| Dividend yield | 2.24% | 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 | ASH | QQQ |
|---|---|---|
| 2022 | +1.1% | -32.6% |
| 2023 | -20.2% | +54.9% |
| 2024 | -13.7% | +25.6% |
| 2025 | -15.4% | +20.8% |
| 2026 | +27.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASH and QQQ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASH and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.31 over the last year and 0.43 over 5 years.
Is QQQ a good diversifier for ASH?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ash-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ash-vs-qqq/)
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Related comparisons
Hubs: ASH correlations · QQQ correlations
