CAH vs QQQ: Correlation
Cardinal Health (CAH) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.10.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAH and QQQ?
On 3 years of weekly data the CAH/QQQ correlation comes out at 0.10, weak. The past 12 months show a weaker link (-0.09) than the 3-year average (0.10). The 5-year figure is 0.19, and annualized covariance runs at 46.4 %².
Within CAH's tracked universe of 32 assets, QQQ comes in at #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CAH ahead by 32.9 points (+59.2% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.16 and 0.43 over the past three years, so this pair behaves very differently depending on the market environment.
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.
CAH vs QQQ: side by side
| CAH (Cardinal Health) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +59.2% | +26.3% |
| 5-year return | +409.0% | +95.4% |
| Volatility (ann.) | 24.2% | 19.6% |
| Beta vs S&P 500 | 0.31 | 1.28 |
| Max drawdown (3Y) | -20.4% | -22.8% |
| Market cap | $54.7B | – |
| P/E (trailing) | 33.0 | – |
| Dividend yield | 0.86% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | CAH | QQQ |
|---|---|---|
| 2022 | +54.1% | -32.6% |
| 2023 | +34.1% | +54.9% |
| 2024 | +19.0% | +25.6% |
| 2025 | +76.3% | +20.8% |
| 2026 | +15.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAH and QQQ good diversifiers for each other?
Yes. With a correlation of 0.10, CAH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CAH and QQQ?
The CAH/QQQ correlation stands at 0.10 on a 3-year window (1 year: -0.09, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CAH?
Yes. With a correlation of 0.10, CAH and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.10 mean?
A reading of 0.10 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: CAH correlations · QQQ correlations
