CDW vs QQQ: Correlation
How closely do CDW Corporation (CDW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and QQQ?
On 3 years of weekly data the CDW/QQQ correlation comes out at 0.36, moderate. The past 12 months show a weaker link (0.07) than the 3-year average (0.36). The 5-year figure is 0.46, and annualized covariance runs at 241.4 %².
Within CDW's tracked universe of 40 assets, QQQ comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 34.3 points (-8.0% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.05 and 0.68 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since CDW carries 1.7 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.
CDW vs QQQ: side by side
| CDW (CDW Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.0% | +26.3% |
| 5-year return | -20.5% | +95.4% |
| Volatility (ann.) | 34.2% | 19.6% |
| Beta vs S&P 500 | 1.01 | 1.28 |
| Max drawdown (3Y) | -60.4% | -22.8% |
| Market cap | $18.6B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 1.78% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | CDW | QQQ |
|---|---|---|
| 2022 | -11.7% | -32.6% |
| 2023 | +28.8% | +54.9% |
| 2024 | -22.6% | +25.6% |
| 2025 | -20.6% | +20.8% |
| 2026 | +11.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDW and QQQ?
As of 2026-08-27, the correlation of weekly returns between CDW and QQQ is 0.36 over 3 years, 0.07 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for CDW?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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/cdw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-qqq/)
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Related comparisons
Hubs: CDW correlations · QQQ correlations
