ASRV vs QQQ: Correlation
Measured on weekly returns over the past three years, AmeriServ Financial Inc. (ASRV) and Invesco QQQ Trust (QQQ) carry a correlation of 0.03, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and QQQ?
On 3 years of weekly data the ASRV/QQQ correlation comes out at 0.03, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.02) sits close to the 3-year figure. The 5-year figure is 0.03, and annualized covariance runs at 20.9 %².
Among the 11 assets we track against ASRV, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: ASRV led by 37.0 percentage points, +63.3% for ASRV against +26.3% for QQQ. One caveat on sizing: ASRV is 1.8 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.
ASRV vs QQQ: side by side
| ASRV (AmeriServ Financial Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +63.3% | +26.3% |
| 5-year return | +50.5% | +95.4% |
| Volatility (ann.) | 34.7% | 19.6% |
| Beta vs S&P 500 | 0.31 | 1.28 |
| Max drawdown (3Y) | -32.9% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.36% | 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 | ASRV | QQQ |
|---|---|---|
| 2022 | +5.0% | -32.6% |
| 2023 | -14.5% | +54.9% |
| 2024 | -13.4% | +25.6% |
| 2025 | +24.3% | +20.8% |
| 2026 | +55.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASRV and QQQ?
The ASRV/QQQ correlation stands at 0.03 on a 3-year window (1 year: -0.02, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ASRV?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 mean?
A reading of 0.03 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ASRV correlations · QQQ correlations
