ATMP vs QQQ: Correlation
Measured on weekly returns over the past three years, iPath Select MLP ETN (ATMP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and QQQ?
Across a 3-year window, the weekly returns of ATMP and QQQ correlate at 0.10, weak. The past 12 months show a weaker link (-0.43) than the 3-year average (0.10). Stretching to 5 years gives 0.19, with an annualized covariance of 33.1 %².
QQQ is close to the least connected end of ATMP's tracked universe, ranking #34 of 37. On 12-month performance ATMP holds a 8.1-point edge, +34.4% against +26.3%.
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.
ATMP vs QQQ: side by side
| ATMP (iPath Select MLP ETN) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.4% | +26.3% |
| 5-year return | +216.1% | +95.4% |
| Volatility (ann.) | 17.0% | 19.6% |
| Beta vs S&P 500 | 0.28 | 1.28 |
| Max drawdown (3Y) | -15.6% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | ATMP | QQQ |
|---|---|---|
| 2022 | +27.5% | -32.6% |
| 2023 | +21.6% | +54.9% |
| 2024 | +38.7% | +25.6% |
| 2025 | +7.0% | +20.8% |
| 2026 | +32.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, ATMP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ATMP and QQQ?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.43 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for ATMP?
Yes. With a correlation of 0.10, ATMP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
On the −1 to +1 scale, 0.10 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/atmp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atmp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATMP correlations · QQQ correlations
