AZTA vs QQQ: Correlation
How closely do Azenta, Inc. (AZTA) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.23, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZTA and QQQ?
On 3 years of weekly data the AZTA/QQQ correlation comes out at 0.23, weak. Recent behaviour matches the longer record: 0.15 over 1 year against 0.23 over 3. The 5-year figure is 0.39, and annualized covariance runs at 233.3 %².
Out of 16 assets tracked against AZTA, QQQ lands near the bottom at #13. The last year tells two different stories: QQQ led by 15.0 percentage points, +11.3% for AZTA against +26.3% for QQQ. One caveat on sizing: AZTA is 2.6 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.
AZTA vs QQQ: side by side
| AZTA (Azenta, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.3% | +26.3% |
| 5-year return | -60.4% | +95.4% |
| Volatility (ann.) | 51.4% | 19.6% |
| Beta vs S&P 500 | 1.08 | 1.28 |
| Max drawdown (3Y) | -76.3% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| 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 | AZTA | QQQ |
|---|---|---|
| 2022 | -43.5% | -32.6% |
| 2023 | +11.9% | +54.9% |
| 2024 | -23.2% | +25.6% |
| 2025 | -33.5% | +20.8% |
| 2026 | +1.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZTA and QQQ good diversifiers for each other?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AZTA and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.15 over the last year and 0.39 over 5 years.
Is QQQ a good diversifier for AZTA?
A fair diversifier. At 0.23, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.23 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.
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Related comparisons
Hubs: AZTA correlations · QQQ correlations
