CCJ vs QQQ: Correlation
Measured on weekly returns over the past three years, Cameco Corporation (CCJ) and Invesco QQQ Trust (QQQ) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCJ and QQQ?
Over the past 3 years, CCJ and QQQ moved with a correlation of 0.44, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.44 over 3. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 380.4 %².
Out of 15 assets tracked against CCJ, QQQ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with CCJ ahead by 15.2 points (+41.5% versus +26.3%). One caveat on sizing: CCJ is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CCJ vs QQQ: side by side
| CCJ (Cameco Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +41.5% | +26.3% |
| 5-year return | +501.7% | +95.4% |
| Volatility (ann.) | 44.1% | 19.6% |
| Beta vs S&P 500 | 1.33 | 1.28 |
| Max drawdown (3Y) | -40.0% | -22.8% |
| Market cap | $46.3B | – |
| P/E (trailing) | 183.3 | – |
| Dividend yield | 0.22% | 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 | CCJ | QQQ |
|---|---|---|
| 2022 | +4.3% | -32.6% |
| 2023 | +90.5% | +54.9% |
| 2024 | +19.5% | +25.6% |
| 2025 | +78.4% | +20.8% |
| 2026 | +16.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCJ and QQQ good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CCJ and QQQ?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.52 over the last year and 0.39 over 5 years.
Is QQQ a good diversifier for CCJ?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 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/ccj-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccj-vs-qqq/)
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Related comparisons
Hubs: CCJ correlations · QQQ correlations
