CARE vs QQQ: Correlation
Carter Bankshares, Inc. (CARE) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARE and QQQ?
Across a 3-year window, the weekly returns of CARE and QQQ correlate at 0.19, weak. The link has loosened recently: the 1-year correlation (-0.19) runs below the 3-year figure (0.19). Stretching to 5 years gives 0.23, with an annualized covariance of 116.7 %².
Out of 14 assets tracked against CARE, QQQ lands near the bottom at #11. The last year tells two different stories: CARE led by 39.4 percentage points, +65.7% for CARE against +26.3% for QQQ. Note the risk asymmetry: CARE runs 1.6 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.
CARE vs QQQ: side by side
| CARE (Carter Bankshares, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +65.7% | +26.3% |
| 5-year return | +167.6% | +95.4% |
| Volatility (ann.) | 30.7% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -31.7% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 0.32% | 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 | CARE | QQQ |
|---|---|---|
| 2022 | +7.8% | -32.6% |
| 2023 | -9.8% | +54.9% |
| 2024 | +17.5% | +25.6% |
| 2025 | +11.8% | +20.8% |
| 2026 | +64.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARE and QQQ good diversifiers for each other?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CARE and QQQ?
As of 2026-08-27, the correlation of weekly returns between CARE and QQQ is 0.19 over 3 years, -0.19 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for CARE?
Yes: at 0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.19 mean?
On the −1 to +1 scale, 0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/care-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/care-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARE correlations · QQQ correlations
