ATEX vs QQQ: Correlation
Anterix Inc. (ATEX) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATEX and QQQ?
Across a 3-year window, the weekly returns of ATEX and QQQ correlate at 0.09, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.08) sits close to the 3-year figure. Stretching to 5 years gives 0.13, with an annualized covariance of 104.0 %².
Among the 11 assets we track against ATEX, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months ATEX outperformed by 274.2 percentage points (+300.5% for ATEX against +26.3% for QQQ). Risk is not evenly split, since ATEX carries 2.9 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.
ATEX vs QQQ: side by side
| ATEX (Anterix Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +300.5% | +26.3% |
| 5-year return | +66.1% | +95.4% |
| Volatility (ann.) | 57.8% | 19.6% |
| Beta vs S&P 500 | 0.47 | 1.28 |
| Max drawdown (3Y) | -57.3% | -22.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 27.1 | – |
| 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 | ATEX | QQQ |
|---|---|---|
| 2022 | -45.3% | -32.6% |
| 2023 | +3.6% | +54.9% |
| 2024 | -8.0% | +25.6% |
| 2025 | -28.8% | +20.8% |
| 2026 | +333.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATEX and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATEX and QQQ?
Using weekly returns as of 2026-08-27: 0.09 over 3 years, with 0.08 over the last year and 0.13 over 5 years.
Is QQQ a good diversifier for ATEX?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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: ATEX correlations · QQQ correlations
