CAPS vs QQQ: Correlation
Capstone Holding Corp. (CAPS) 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 CAPS and QQQ?
Over the past 3 years, CAPS and QQQ moved with a correlation of 0.10, which is weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is 160.0 %².
Among the 10 assets we track against CAPS, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 111.3 percentage points, -85.0% for CAPS against +26.3% for QQQ. Note the risk asymmetry: CAPS runs 4.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CAPS vs QQQ: side by side
| CAPS (Capstone Holding Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -85.0% | +26.3% |
| 5-year return | -99.2% | +95.4% |
| Volatility (ann.) | 81.8% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -97.5% | -22.8% |
| Market cap | – | – |
| 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 | CAPS | QQQ |
|---|---|---|
| 2022 | +114.5% | -32.6% |
| 2023 | -85.9% | +54.9% |
| 2024 | -56.9% | +25.6% |
| 2025 | -67.4% | +20.8% |
| 2026 | -74.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAPS and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAPS and QQQ?
The CAPS/QQQ correlation stands at 0.10 on a 3-year window (1 year: 0.13, 5 years: 0.04), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CAPS?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 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: CAPS correlations · QQQ correlations
