CAL vs QQQ: Correlation
How closely do Caleres, Inc. (CAL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAL and QQQ?
Across a 3-year window, the weekly returns of CAL and QQQ correlate at 0.28, weak. Recent behaviour matches the longer record: 0.36 over 1 year against 0.28 over 3. Stretching to 5 years gives 0.30, with an annualized covariance of 304.9 %².
Out of 16 assets tracked against CAL, QQQ lands near the bottom at #13. The last year tells two different stories: QQQ led by 43.7 percentage points, -17.4% for CAL against +26.3% for QQQ. One caveat on sizing: CAL is 2.9 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.
CAL vs QQQ: side by side
| CAL (Caleres, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -17.4% | +26.3% |
| 5-year return | -45.9% | +95.4% |
| Volatility (ann.) | 55.9% | 19.6% |
| Beta vs S&P 500 | 1.37 | 1.28 |
| Max drawdown (3Y) | -79.4% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.14% | 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 | CAL | QQQ |
|---|---|---|
| 2022 | -0.6% | -32.6% |
| 2023 | +39.4% | +54.9% |
| 2024 | -23.9% | +25.6% |
| 2025 | -46.4% | +20.8% |
| 2026 | +4.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAL and QQQ good diversifiers for each other?
Reasonably. At 0.28, CAL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAL and QQQ?
The CAL/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.36, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CAL?
Reasonably. At 0.28, CAL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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: CAL correlations · QQQ correlations
