CECO vs QQQ: Correlation
CECO Environmental Corp. (CECO) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CECO and QQQ?
Over the past 3 years, CECO and QQQ moved with a correlation of 0.26, which is weak. Little has changed lately, as the 1-year reading of 0.16 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 269.6 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against CECO. Correlation aside, the last 12 months split them widely, with CECO ahead by 27.8 points (+54.1% versus +26.3%). Note the risk asymmetry: CECO runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CECO vs QQQ: side by side
| CECO (CECO Environmental Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +54.1% | +26.3% |
| 5-year return | +853.0% | +95.4% |
| Volatility (ann.) | 54.0% | 19.6% |
| Beta vs S&P 500 | 0.97 | 1.28 |
| Max drawdown (3Y) | -47.9% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | – | – |
| 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 | CECO | QQQ |
|---|---|---|
| 2022 | +87.5% | -32.6% |
| 2023 | +73.6% | +54.9% |
| 2024 | +49.1% | +25.6% |
| 2025 | +98.0% | +20.8% |
| 2026 | +20.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CECO and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CECO and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.16 over the last year and 0.26 over 5 years.
Is QQQ a good diversifier for CECO?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ceco-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ceco-vs-qqq/)
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Related comparisons
Hubs: CECO correlations · QQQ correlations
