ASTE vs QQQ: Correlation
How closely do Astec Industries, Inc. (ASTE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTE and QQQ?
Across a 3-year window, the weekly returns of ASTE and QQQ correlate at 0.21, weak. The past 12 months show a weaker link (-0.01) than the 3-year average (0.21). Stretching to 5 years gives 0.31, with an annualized covariance of 186.4 %².
Out of 13 assets tracked against ASTE, QQQ lands near the bottom at #10. The last year tells two different stories: QQQ led by 32.2 percentage points, -5.9% for ASTE against +26.3% for QQQ. One caveat on sizing: ASTE is 2.3 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.
ASTE vs QQQ: side by side
| ASTE (Astec Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -5.9% | +26.3% |
| 5-year return | -23.7% | +95.4% |
| Volatility (ann.) | 45.5% | 19.6% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -47.0% | -22.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 52.6 | – |
| Dividend yield | 1.18% | 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 | ASTE | QQQ |
|---|---|---|
| 2022 | -40.6% | -32.6% |
| 2023 | -7.3% | +54.9% |
| 2024 | -8.4% | +25.6% |
| 2025 | +30.6% | +20.8% |
| 2026 | +2.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTE and QQQ good diversifiers for each other?
Reasonably. At 0.21, ASTE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASTE and QQQ?
The ASTE/QQQ correlation stands at 0.21 on a 3-year window (1 year: -0.01, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ASTE?
Reasonably. At 0.21, ASTE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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/aste-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aste-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASTE correlations · QQQ correlations
