AVAV vs QQQ: Correlation
How closely do AeroVironment, Inc. (AVAV) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAV and QQQ?
Over the past 3 years, AVAV and QQQ moved with a correlation of 0.32, which is moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.32 over 3. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 457.5 %².
Out of 13 assets tracked against AVAV, QQQ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with QQQ ahead by 64.8 points (-38.5% versus +26.3%). Note the risk asymmetry: AVAV runs 3.7 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.
AVAV vs QQQ: side by side
| AVAV (AeroVironment, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -38.5% | +26.3% |
| 5-year return | +48.2% | +95.4% |
| Volatility (ann.) | 73.1% | 19.6% |
| Beta vs S&P 500 | 1.82 | 1.28 |
| Max drawdown (3Y) | -66.6% | -22.8% |
| Market cap | $7.7B | – |
| 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 | AVAV | QQQ |
|---|---|---|
| 2022 | +38.1% | -32.6% |
| 2023 | +47.1% | +54.9% |
| 2024 | +22.1% | +25.6% |
| 2025 | +57.2% | +20.8% |
| 2026 | -37.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAV and QQQ good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVAV and QQQ?
The AVAV/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.36, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AVAV?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avav-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avav-vs-qqq/)
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Related comparisons
Hubs: AVAV correlations · QQQ correlations
