CCL vs QQQ: Correlation
How closely do Carnival Corporation (CCL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCL and QQQ?
On 3 years of weekly data the CCL/QQQ correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.46). The 5-year figure is 0.52, and annualized covariance runs at 418.1 %².
By 3-year correlation, QQQ places #25 of the 40 assets tracked against CCL. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 47.9 percentage points (-21.6% for CCL against +26.3% for QQQ). The rolling one-year correlation moved between 0.25 and 0.66 over the past three years, a moderate range. One caveat on sizing: CCL is 2.4 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.
CCL vs QQQ: side by side
| CCL (Carnival Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -21.6% | +26.3% |
| 5-year return | +7.3% | +95.4% |
| Volatility (ann.) | 46.5% | 19.6% |
| Beta vs S&P 500 | 1.72 | 1.28 |
| Max drawdown (3Y) | -42.3% | -22.8% |
| Market cap | $34.2B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 1.17% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Discretionary | 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 | CCL | QQQ |
|---|---|---|
| 2022 | -59.9% | -32.6% |
| 2023 | +130.0% | +54.9% |
| 2024 | +34.4% | +25.6% |
| 2025 | +22.6% | +20.8% |
| 2026 | -17.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCL and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CCL and QQQ?
The CCL/QQQ correlation stands at 0.46 on a 3-year window (1 year: 0.31, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CCL?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ccl-vs-qqq/)
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Related comparisons
Hubs: CCL correlations · QQQ correlations
