AXTA vs QQQ: Correlation
How closely do Axalta Coating Systems Ltd. (AXTA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and QQQ?
Across a 3-year window, the weekly returns of AXTA and QQQ correlate at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.39). Stretching to 5 years gives 0.51, with an annualized covariance of 224.9 %².
Among the 17 assets we track against AXTA, QQQ sits near the bottom by co-movement, at rank #13. Over the last 12 months QQQ came out ahead by 9.7 percentage points (+16.6% against +26.3%). Note the risk asymmetry: AXTA runs 1.5 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.
AXTA vs QQQ: side by side
| AXTA (Axalta Coating Systems Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.6% | +26.3% |
| 5-year return | +18.4% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 1.01 | 1.28 |
| Max drawdown (3Y) | -38.4% | -22.8% |
| Market cap | $7.9B | – |
| P/E (trailing) | 22.5 | – |
| 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 | AXTA | QQQ |
|---|---|---|
| 2022 | -23.1% | -32.6% |
| 2023 | +33.4% | +54.9% |
| 2024 | +0.7% | +25.6% |
| 2025 | -5.6% | +20.8% |
| 2026 | +13.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and QQQ good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AXTA and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.22 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for AXTA?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: AXTA correlations · QQQ correlations
