CATY vs QQQ: Correlation
How closely do Cathay General Bancorp (CATY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and QQQ?
On 3 years of weekly data the CATY/QQQ correlation comes out at 0.30, moderate. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.30). The 5-year figure is 0.37, and annualized covariance runs at 156.6 %².
Out of 28 assets tracked against CATY, QQQ lands near the bottom at #25. Twelve-month performance is nearly a tie, at +26.7% for CATY and +26.3% for QQQ.
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.
CATY vs QQQ: side by side
| CATY (Cathay General Bancorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.7% | +26.3% |
| 5-year return | +83.2% | +95.4% |
| Volatility (ann.) | 26.8% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -29.7% | -22.8% |
| Market cap | $4.1B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.39% | 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 | CATY | QQQ |
|---|---|---|
| 2022 | -2.1% | -32.6% |
| 2023 | +13.5% | +54.9% |
| 2024 | +10.3% | +25.6% |
| 2025 | +4.6% | +20.8% |
| 2026 | +30.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CATY and QQQ?
The CATY/QQQ correlation stands at 0.30 on a 3-year window (1 year: 0.12, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CATY?
Yes, to a useful degree: a correlation of 0.30 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.30 mean?
A reading of 0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CATY correlations · QQQ correlations
