AVO vs QQQ: Correlation
How closely do Mission Produce, Inc. (AVO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVO and QQQ?
Over the past 3 years, AVO and QQQ moved with a correlation of 0.09, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.01 over 1 year against 0.09 over 3. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 65.9 %².
Out of 10 assets tracked against AVO, QQQ lands near the bottom at #7. The last year tells two different stories: QQQ led by 26.0 percentage points, +0.3% for AVO against +26.3% for QQQ. One caveat on sizing: AVO is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVO vs QQQ: side by side
| AVO (Mission Produce, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.3% | +26.3% |
| 5-year return | -38.9% | +95.4% |
| Volatility (ann.) | 37.0% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -34.1% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 40.4 | – |
| 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 | AVO | QQQ |
|---|---|---|
| 2022 | -26.0% | -32.6% |
| 2023 | -13.2% | +54.9% |
| 2024 | +42.4% | +25.6% |
| 2025 | -19.3% | +20.8% |
| 2026 | +7.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVO and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, AVO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVO and QQQ?
The AVO/QQQ correlation stands at 0.09 on a 3-year window (1 year: -0.01, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AVO?
Yes. With a correlation of 0.09, AVO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
A reading of 0.09 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AVO correlations · QQQ correlations
