ATO vs QQQ: Correlation
Measured on weekly returns over the past three years, Atmos Energy (ATO) and Invesco QQQ Trust (QQQ) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and QQQ?
Across a 3-year window, the weekly returns of ATO and QQQ correlate at -0.01, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.01). Stretching to 5 years gives 0.21, with an annualized covariance of -1.6 %².
By 3-year correlation, QQQ places #22 of the 32 assets tracked against ATO. Correlation aside, the last 12 months split them widely, with QQQ ahead by 23.4 points (+2.9% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.36 and 0.44 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ATO vs QQQ: side by side
| ATO (Atmos Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.9% | +26.3% |
| 5-year return | +94.1% | +95.4% |
| Volatility (ann.) | 15.9% | 19.6% |
| Beta vs S&P 500 | 0.15 | 1.28 |
| Max drawdown (3Y) | -12.7% | -22.8% |
| Market cap | $28.3B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 2.28% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | ATO | QQQ |
|---|---|---|
| 2022 | +9.6% | -32.6% |
| 2023 | +6.2% | +54.9% |
| 2024 | +23.4% | +25.6% |
| 2025 | +23.1% | +20.8% |
| 2026 | +1.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATO and QQQ?
The ATO/QQQ correlation stands at -0.01 on a 3-year window (1 year: -0.33, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ATO?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
What does a correlation of -0.01 mean?
On the −1 to +1 scale, -0.01 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
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Related comparisons
Hubs: ATO correlations · QQQ correlations
