CEG vs QQQ: Correlation
How closely do Constellation Energy (CEG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEG and QQQ?
Across a 3-year window, the weekly returns of CEG and QQQ correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.43 over 3 years. Stretching to 5 years gives 0.39, with an annualized covariance of 433.2 %².
Within CEG's tracked universe of 32 assets, QQQ comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 36.4 points (-10.1% versus +26.3%). This link changes with the market regime, having swung between 0.16 and 0.67 on a rolling one-year basis. Risk is not evenly split, since CEG carries 2.7 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.
CEG vs QQQ: side by side
| CEG (Constellation Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -10.1% | +26.3% |
| 5-year return | +598.5% | +95.4% |
| Volatility (ann.) | 52.1% | 19.6% |
| Beta vs S&P 500 | 1.42 | 1.28 |
| Max drawdown (3Y) | -50.7% | -22.8% |
| Market cap | $100.1B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 0.58% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | CEG | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +37.2% | +54.9% |
| 2024 | +92.7% | +25.6% |
| 2025 | +58.8% | +20.8% |
| 2026 | -19.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CEG represents 0.45% of QQQ's portfolio, so part of any move in QQQ is CEG itself, and the correlation between them is partly mechanical.
Are CEG and QQQ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CEG and QQQ?
As of 2026-08-27, the correlation of weekly returns between CEG and QQQ is 0.43 over 3 years, 0.26 over 1 year and 0.39 over 5 years.
Is QQQ a good diversifier for CEG?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/ceg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ceg-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CEG correlations · QQQ correlations
