CAR vs QQQ: Correlation
Avis Budget Group, Inc. (CAR) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAR and QQQ?
Across a 3-year window, the weekly returns of CAR and QQQ correlate at 0.24, weak. The relationship has been stable: the 1-year correlation (0.16) sits close to the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 425.3 %².
QQQ is close to the least connected end of CAR's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with QQQ ahead by 37.4 points (-11.1% versus +26.3%). Note the risk asymmetry: CAR runs 4.6 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.
CAR vs QQQ: side by side
| CAR (Avis Budget Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.1% | +26.3% |
| 5-year return | +63.5% | +95.4% |
| Volatility (ann.) | 89.7% | 19.6% |
| Beta vs S&P 500 | 1.84 | 1.28 |
| Max drawdown (3Y) | -80.8% | -22.8% |
| Market cap | $4.9B | – |
| 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 | CAR | QQQ |
|---|---|---|
| 2022 | -20.9% | -32.6% |
| 2023 | +13.8% | +54.9% |
| 2024 | -54.5% | +25.6% |
| 2025 | +59.2% | +20.8% |
| 2026 | +8.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAR and QQQ good diversifiers for each other?
Reasonably. At 0.24, CAR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CAR and QQQ?
As of 2026-08-27, the correlation of weekly returns between CAR and QQQ is 0.24 over 3 years, 0.16 over 1 year and 0.32 over 5 years.
Is QQQ a good diversifier for CAR?
Reasonably. At 0.24, CAR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
A reading of 0.24 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
$ curl https://www.pairbook.io/api/v1/pairs/car-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/car-vs-qqq/)
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Related comparisons
Hubs: CAR correlations · QQQ correlations
