CAVA vs QQQ: Correlation
CAVA Group, Inc. (CAVA) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAVA and QQQ?
On 3 years of weekly data the CAVA/QQQ correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.20) than the 3-year average (0.40). The 5-year figure is n/a, and annualized covariance runs at 470.9 %².
Among the 13 assets we track against CAVA, QQQ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 27.5 percentage points (-1.2% for CAVA against +26.3% for QQQ). Risk is not evenly split, since CAVA carries 3.1 times the volatility of the other side.
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.
CAVA vs QQQ: side by side
| CAVA (CAVA Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.2% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 59.9% | 19.6% |
| Beta vs S&P 500 | 1.78 | 1.28 |
| Max drawdown (3Y) | -71.1% | -22.8% |
| Market cap | $7.8B | – |
| P/E (trailing) | 119.6 | – |
| 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 | CAVA | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | +162.4% | +25.6% |
| 2025 | -48.0% | +20.8% |
| 2026 | +14.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAVA and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CAVA and QQQ?
The CAVA/QQQ correlation stands at 0.40 on a 3-year window (1 year: 0.20, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CAVA?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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: CAVA correlations · QQQ correlations
