ASTH vs QQQ: Correlation
Astrana Health Inc. (ASTH) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTH and QQQ?
Across a 3-year window, the weekly returns of ASTH and QQQ correlate at 0.29, weak. The relationship has been stable: the 1-year correlation (0.27) sits close to the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 318.9 %².
Among the 15 assets we track against ASTH, QQQ ranks #8 by 3-year correlation. Their 12-month results are close: +23.1% for ASTH against +26.3% for QQQ. Note the risk asymmetry: ASTH runs 2.9 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.
ASTH vs QQQ: side by side
| ASTH (Astrana Health Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.1% | +26.3% |
| 5-year return | -46.1% | +95.4% |
| Volatility (ann.) | 56.8% | 19.6% |
| Beta vs S&P 500 | 1.15 | 1.28 |
| Max drawdown (3Y) | -71.0% | -22.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 47.4 | – |
| 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 | ASTH | QQQ |
|---|---|---|
| 2022 | -59.7% | -32.6% |
| 2023 | +29.4% | +54.9% |
| 2024 | -17.7% | +25.6% |
| 2025 | -21.3% | +20.8% |
| 2026 | +54.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTH and QQQ good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ASTH and QQQ?
The ASTH/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.27, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ASTH?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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.
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Related comparisons
Hubs: ASTH correlations · QQQ correlations
