CCD vs QQQ: Correlation
Measured on weekly returns over the past three years, Calamos Dynamic Convertible & Income Fund - Closed End Fund (CCD) and Invesco QQQ Trust (QQQ) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCD and QQQ?
On 3 years of weekly data the CCD/QQQ correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 246.6 %².
Out of 10 assets tracked against CCD, QQQ lands near the bottom at #7. The trailing year gives CCD the advantage: +35.4% versus +26.3%, a 9.1-point spread.
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.
CCD vs QQQ: side by side
| CCD (Calamos Dynamic Convertible & Income Fund - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.4% | +26.3% |
| 5-year return | +33.4% | +95.4% |
| Volatility (ann.) | 18.4% | 19.6% |
| Beta vs S&P 500 | 0.88 | 1.28 |
| Max drawdown (3Y) | -22.3% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 2.9 | – |
| 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 | CCD | QQQ |
|---|---|---|
| 2022 | -28.0% | -32.6% |
| 2023 | +8.0% | +54.9% |
| 2024 | +35.9% | +25.6% |
| 2025 | -4.3% | +20.8% |
| 2026 | +26.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCD and QQQ good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CCD and QQQ?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.73 over the last year and 0.66 over 5 years.
Is QQQ a good diversifier for CCD?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 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/ccd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccd-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCD correlations · QQQ correlations
