AXR vs QQQ: Correlation
AMREP Corporation (AXR) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.06.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXR and QQQ?
Across a 3-year window, the weekly returns of AXR and QQQ correlate at 0.06, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.03 over 1 year against 0.06 over 3. Stretching to 5 years gives 0.11, with an annualized covariance of 57.9 %².
Among the 11 assets we track against AXR, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: QQQ led by 22.2 percentage points, +4.1% for AXR against +26.3% for QQQ. Risk is not evenly split, since AXR carries 2.5 times the volatility of the other side.
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.
AXR vs QQQ: side by side
| AXR (AMREP Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.1% | +26.3% |
| 5-year return | +60.4% | +95.4% |
| Volatility (ann.) | 48.9% | 19.6% |
| Beta vs S&P 500 | 0.44 | 1.28 |
| Max drawdown (3Y) | -52.3% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 12.0 | – |
| 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 | AXR | QQQ |
|---|---|---|
| 2022 | -24.0% | -32.6% |
| 2023 | +90.2% | +54.9% |
| 2024 | +42.9% | +25.6% |
| 2025 | -40.1% | +20.8% |
| 2026 | +22.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXR and QQQ good diversifiers for each other?
Yes. With a correlation of 0.06, AXR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AXR and QQQ?
The AXR/QQQ correlation stands at 0.06 on a 3-year window (1 year: 0.03, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AXR?
Yes. With a correlation of 0.06, AXR and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.06 mean?
A reading of 0.06 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: AXR correlations · QQQ correlations
