AZZ vs QQQ: Correlation
How closely do AZZ Inc. (AZZ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZZ and QQQ?
On 3 years of weekly data the AZZ/QQQ correlation comes out at 0.44, moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.44). The 5-year figure is 0.46, and annualized covariance runs at 279.8 %².
QQQ is close to the least connected end of AZZ's tracked universe, ranking #7 of 11. On 12-month performance QQQ holds a 5.5-point edge, +20.8% against +26.3%. Risk is not evenly split, since AZZ carries 1.7 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.
AZZ vs QQQ: side by side
| AZZ (AZZ Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.8% | +26.3% |
| 5-year return | +177.7% | +95.4% |
| Volatility (ann.) | 32.5% | 19.6% |
| Beta vs S&P 500 | 1.09 | 1.28 |
| Max drawdown (3Y) | -23.7% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | 21.5 | – |
| Dividend yield | 0.57% | 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 | AZZ | QQQ |
|---|---|---|
| 2022 | -26.1% | -32.6% |
| 2023 | +46.8% | +54.9% |
| 2024 | +42.3% | +25.6% |
| 2025 | +31.9% | +20.8% |
| 2026 | +31.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZZ and QQQ good diversifiers for each other?
Reasonably. At 0.44, AZZ and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AZZ and QQQ?
As of 2026-08-27, the correlation of weekly returns between AZZ and QQQ is 0.44 over 3 years, 0.26 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for AZZ?
Reasonably. At 0.44, AZZ and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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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Related comparisons
Hubs: AZZ correlations · QQQ correlations
