AWR vs QQQ: Correlation
American States Water Company (AWR) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWR and QQQ?
On 3 years of weekly data the AWR/QQQ correlation comes out at -0.05, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.23) than the 3-year average (-0.05). The 5-year figure is 0.15, and annualized covariance runs at -22.1 %².
Among the 16 assets we track against AWR, QQQ ranks #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.5% for AWR and +26.3% for QQQ.
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.
AWR vs QQQ: side by side
| AWR (American States Water Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.5% | +26.3% |
| 5-year return | +7.6% | +95.4% |
| Volatility (ann.) | 20.8% | 19.6% |
| Beta vs S&P 500 | 0.04 | 1.28 |
| Max drawdown (3Y) | -21.9% | -22.8% |
| Market cap | $3.5B | – |
| P/E (trailing) | 24.3 | – |
| Dividend yield | 2.24% | 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 | AWR | QQQ |
|---|---|---|
| 2022 | -8.9% | -32.6% |
| 2023 | -11.4% | +54.9% |
| 2024 | -1.2% | +25.6% |
| 2025 | -4.3% | +20.8% |
| 2026 | +25.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWR and QQQ good diversifiers for each other?
Yes. With a correlation of -0.05, AWR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AWR and QQQ?
As of 2026-08-27, the correlation of weekly returns between AWR and QQQ is -0.05 over 3 years, -0.23 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for AWR?
Yes. With a correlation of -0.05, AWR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.05 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
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[](https://www.pairbook.io/pair/awr-vs-qqq/)
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Related comparisons
Hubs: AWR correlations · QQQ correlations
