ASML vs QQQ: Correlation
How closely do ASML Holding N.V. - New York Registry Shares (ASML) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASML and QQQ?
On 3 years of weekly data the ASML/QQQ correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.72, and annualized covariance runs at 475.3 %².
Out of 10 assets tracked against ASML, QQQ lands near the bottom at #6. Correlation aside, the last 12 months split them widely, with ASML ahead by 100.5 points (+126.8% versus +26.3%). Risk is not evenly split, since ASML carries 2.0 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.
ASML vs QQQ: side by side
| ASML (ASML Holding N.V. - New York Registry Shares) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +126.8% | +26.3% |
| 5-year return | +116.6% | +95.4% |
| Volatility (ann.) | 38.6% | 19.6% |
| Beta vs S&P 500 | 1.52 | 1.28 |
| Max drawdown (3Y) | -45.5% | -22.8% |
| Market cap | $666.4B | – |
| P/E (trailing) | 58.5 | – |
| Dividend yield | 0.25% | 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 | ASML | QQQ |
|---|---|---|
| 2022 | -30.5% | -32.6% |
| 2023 | +39.9% | +54.9% |
| 2024 | -7.7% | +25.6% |
| 2025 | +55.8% | +20.8% |
| 2026 | +63.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.71% of QQQ is ASML itself, so the fund partly moves with the stock by construction.
Are ASML and QQQ good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASML and QQQ?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.54 over the last year and 0.72 over 5 years.
Is QQQ a good diversifier for ASML?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/asml-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asml-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASML correlations · QQQ correlations
