AU vs QQQ: Correlation
How closely do AngloGold Ashanti PLC (AU) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AU and QQQ?
Across a 3-year window, the weekly returns of AU and QQQ correlate at 0.21, weak. Lately the two have moved closer together, with the 1-year correlation at 0.33 versus 0.21 over 3 years. Stretching to 5 years gives 0.23, with an annualized covariance of 231.6 %².
QQQ is close to the least connected end of AU's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with AU ahead by 97.5 points (+123.8% versus +26.3%). Note the risk asymmetry: AU 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.
AU vs QQQ: side by side
| AU (AngloGold Ashanti PLC) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +123.8% | +26.3% |
| 5-year return | +725.4% | +95.4% |
| Volatility (ann.) | 56.7% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -39.9% | -22.8% |
| Market cap | $59.9B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 3.83% | 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 | AU | QQQ |
|---|---|---|
| 2022 | -5.1% | -32.6% |
| 2023 | -2.7% | +54.9% |
| 2024 | +26.5% | +25.6% |
| 2025 | +288.2% | +20.8% |
| 2026 | +43.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AU and QQQ good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AU and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.33 over the last year and 0.23 over 5 years.
Is QQQ a good diversifier for AU?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
A reading of 0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/au-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/au-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AU correlations · QQQ correlations
