ASM vs QQQ: Correlation
Measured on weekly returns over the past three years, Avino Silver & Gold Mines Ltd. (ASM) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASM and QQQ?
On 3 years of weekly data the ASM/QQQ correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.34 over 3. The 5-year figure is 0.31, and annualized covariance runs at 512.3 %².
QQQ is close to the least connected end of ASM's tracked universe, ranking #11 of 14. Their recent paths diverged sharply: over the last 12 months ASM outperformed by 49.8 percentage points (+76.1% for ASM against +26.3% for QQQ). One caveat on sizing: ASM is 4.0 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.
ASM vs QQQ: side by side
| ASM (Avino Silver & Gold Mines Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +76.1% | +26.3% |
| 5-year return | +657.8% | +95.4% |
| Volatility (ann.) | 77.8% | 19.6% |
| Beta vs S&P 500 | 1.95 | 1.28 |
| Max drawdown (3Y) | -53.1% | -22.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 28.6 | – |
| 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 | ASM | QQQ |
|---|---|---|
| 2022 | -20.9% | -32.6% |
| 2023 | -23.5% | +54.9% |
| 2024 | +69.2% | +25.6% |
| 2025 | +605.7% | +20.8% |
| 2026 | +24.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASM and QQQ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASM and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.44 over the last year and 0.31 over 5 years.
Is QQQ a good diversifier for ASM?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/asm-vs-qqq.json
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Related comparisons
Hubs: ASM correlations · QQQ correlations
