AVGO vs QQQM: Correlation
Broadcom (AVGO) and Invesco Nasdaq 100 ETF (QQQM) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVGO and QQQM?
Across a 3-year window, the weekly returns of AVGO and QQQM correlate at 0.77, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 769.1 %².
By 3-year correlation, QQQM places #4 of the 33 assets tracked against AVGO. Twelve-month performance is nearly a tie, at +24.7% for AVGO and +26.4% for QQQM. Across three years, the rolling one-year figure varied moderately, from 0.58 to 0.87. Note the risk asymmetry: AVGO runs 2.6 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.
AVGO vs QQQM: side by side
| AVGO (Broadcom) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +24.7% | +26.4% |
| 5-year return | +718.0% | +96.1% |
| Volatility (ann.) | 51.3% | 19.5% |
| Beta vs S&P 500 | 2.45 | 1.28 |
| Max drawdown (3Y) | -41.1% | -22.7% |
| Market cap | $1,767.6B | – |
| P/E (trailing) | 59.2 | – |
| Dividend yield | 0.71% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | AVGO | QQQM |
|---|---|---|
| 2022 | -13.3% | -32.5% |
| 2023 | +104.2% | +55.0% |
| 2024 | +110.5% | +25.7% |
| 2025 | +50.6% | +20.9% |
| 2026 | +7.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AVGO represents 2.71% of QQQM's portfolio, so part of any move in QQQM is AVGO itself, and the correlation between them is partly mechanical.
Are AVGO and QQQM good diversifiers for each other?
Only partially. A correlation of 0.77 means AVGO and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AVGO and QQQM?
The AVGO/QQQM correlation stands at 0.77 on a 3-year window (1 year: 0.70, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is QQQM a good diversifier for AVGO?
Only partially. A correlation of 0.77 means AVGO and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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/avgo-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avgo-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVGO correlations · QQQM correlations
