AZN vs QQQ: Correlation
How closely do AstraZeneca PLC (AZN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.02, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZN and QQQ?
Over the past 3 years, AZN and QQQ moved with a correlation of 0.02, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.17) runs below the 3-year figure (0.02). Over 5 years the correlation is 0.12, and the annualized covariance of weekly returns is 7.9 %².
Out of 14 assets tracked against AZN, QQQ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 22.3 percentage points (+4.0% for AZN against +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.
AZN vs QQQ: side by side
| AZN (AstraZeneca PLC) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.0% | +26.3% |
| 5-year return | +54.7% | +95.4% |
| Volatility (ann.) | 25.1% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -27.9% | -22.8% |
| Market cap | $255.2B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 1.94% | 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 | AZN | QQQ |
|---|---|---|
| 2022 | +19.2% | -32.6% |
| 2023 | +1.4% | +54.9% |
| 2024 | -0.6% | +25.6% |
| 2025 | +43.3% | +20.8% |
| 2026 | -9.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZN and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between AZN and QQQ?
The AZN/QQQ correlation stands at 0.02 on a 3-year window (1 year: -0.17, 5 years: 0.12), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for AZN?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 mean?
A reading of 0.02 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: AZN correlations · QQQ correlations
