CARG vs QQQ: Correlation
CarGurus, Inc. (CARG) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and QQQ?
On 3 years of weekly data the CARG/QQQ correlation comes out at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.36 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 280.5 %².
QQQ is close to the least connected end of CARG's tracked universe, ranking #13 of 17. The last year tells two different stories: QQQ led by 20.2 percentage points, +6.1% for CARG against +26.3% for QQQ. Note the risk asymmetry: CARG runs 2.0 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.
CARG vs QQQ: side by side
| CARG (CarGurus, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.1% | +26.3% |
| 5-year return | +17.1% | +95.4% |
| Volatility (ann.) | 39.4% | 19.6% |
| Beta vs S&P 500 | 1.12 | 1.28 |
| Max drawdown (3Y) | -37.9% | -22.8% |
| Market cap | $3.2B | – |
| P/E (trailing) | 18.6 | – |
| 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 | CARG | QQQ |
|---|---|---|
| 2022 | -58.4% | -32.6% |
| 2023 | +72.4% | +54.9% |
| 2024 | +51.2% | +25.6% |
| 2025 | +5.0% | +20.8% |
| 2026 | -5.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CARG and QQQ?
As of 2026-08-27, the correlation of weekly returns between CARG and QQQ is 0.36 over 3 years, 0.21 over 1 year and 0.41 over 5 years.
Is QQQ a good diversifier for CARG?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/carg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/carg-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARG correlations · QQQ correlations
