CDE vs QQQ: Correlation
How closely do Coeur Mining, Inc. (CDE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDE and QQQ?
On 3 years of weekly data the CDE/QQQ correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.37 over 3. The 5-year figure is 0.34, and annualized covariance runs at 539.3 %².
Among the 10 assets we track against CDE, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: CDE led by 52.0 percentage points, +78.3% for CDE against +26.3% for QQQ. Risk is not evenly split, since CDE carries 3.8 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.
CDE vs QQQ: side by side
| CDE (Coeur Mining, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +78.3% | +26.3% |
| 5-year return | +222.7% | +95.4% |
| Volatility (ann.) | 74.8% | 19.6% |
| Beta vs S&P 500 | 1.98 | 1.28 |
| Max drawdown (3Y) | -47.8% | -22.8% |
| Market cap | $22.8B | – |
| P/E (trailing) | 18.7 | – |
| Dividend yield | 0.09% | 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 | CDE | QQQ |
|---|---|---|
| 2022 | -33.3% | -32.6% |
| 2023 | -3.0% | +54.9% |
| 2024 | +75.5% | +25.6% |
| 2025 | +211.7% | +20.8% |
| 2026 | +24.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDE and QQQ?
The CDE/QQQ correlation stands at 0.37 on a 3-year window (1 year: 0.45, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CDE?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CDE correlations · QQQ correlations
