ATLO vs QQQ: Correlation
How closely do Ames National Corporation (ATLO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and QQQ?
On 3 years of weekly data the ATLO/QQQ correlation comes out at 0.15, weak. The link has loosened recently: the 1-year correlation (-0.17) runs below the 3-year figure (0.15). The 5-year figure is 0.13, and annualized covariance runs at 78.3 %².
QQQ is close to the least connected end of ATLO's tracked universe, ranking #7 of 11. The last year tells two different stories: ATLO led by 37.2 percentage points, +63.5% for ATLO against +26.3% for QQQ.
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.
ATLO vs QQQ: side by side
| ATLO (Ames National Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +63.5% | +26.3% |
| 5-year return | +67.0% | +95.4% |
| Volatility (ann.) | 26.4% | 19.6% |
| Beta vs S&P 500 | 0.51 | 1.28 |
| Max drawdown (3Y) | -25.4% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.81% | 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 | ATLO | QQQ |
|---|---|---|
| 2022 | +1.0% | -32.6% |
| 2023 | -4.5% | +54.9% |
| 2024 | -19.0% | +25.6% |
| 2025 | +45.7% | +20.8% |
| 2026 | +39.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATLO and QQQ?
Using weekly returns as of 2026-08-27: 0.15 over 3 years, with -0.17 over the last year and 0.13 over 5 years.
Is QQQ a good diversifier for ATLO?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ATLO correlations · QQQ correlations
