ASPN vs QQQ: Correlation
Measured on weekly returns over the past three years, Aspen Aerogels, Inc. (ASPN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASPN and QQQ?
On 3 years of weekly data the ASPN/QQQ correlation comes out at 0.35, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.47 versus 0.35 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 613.1 %².
By 3-year correlation, QQQ places #7 of the 14 assets tracked against ASPN. The last year tells two different stories: QQQ led by 51.8 percentage points, -25.5% for ASPN against +26.3% for QQQ. Note the risk asymmetry: ASPN runs 4.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ASPN vs QQQ: side by side
| ASPN (Aspen Aerogels, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -25.5% | +26.3% |
| 5-year return | -88.1% | +95.4% |
| Volatility (ann.) | 88.3% | 19.6% |
| Beta vs S&P 500 | 2.05 | 1.28 |
| Max drawdown (3Y) | -91.9% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| 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 | ASPN | QQQ |
|---|---|---|
| 2022 | -76.3% | -32.6% |
| 2023 | +33.8% | +54.9% |
| 2024 | -24.7% | +25.6% |
| 2025 | -76.2% | +20.8% |
| 2026 | +84.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASPN and QQQ good diversifiers for each other?
Reasonably. At 0.35, ASPN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASPN and QQQ?
As of 2026-08-27, the correlation of weekly returns between ASPN and QQQ is 0.35 over 3 years, 0.47 over 1 year and 0.42 over 5 years.
Is QQQ a good diversifier for ASPN?
Reasonably. At 0.35, ASPN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/aspn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aspn-vs-qqq/)
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Related comparisons
Hubs: ASPN correlations · QQQ correlations
