CEVA vs QQQM: Correlation
Measured on weekly returns over the past three years, CEVA, Inc. (CEVA) and Invesco Nasdaq 100 ETF (QQQM) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEVA and QQQM?
Across a 3-year window, the weekly returns of CEVA and QQQM correlate at 0.62, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 689.9 %².
Within CEVA's tracked universe of 12 assets, QQQM comes in at #5 by 3-year correlation. Their 12-month results are close: +25.8% for CEVA against +26.4% for QQQM. Note the risk asymmetry: CEVA runs 2.9 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.
CEVA vs QQQM: side by side
| CEVA (CEVA, Inc.) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +25.8% | +26.4% |
| 5-year return | -40.9% | +96.1% |
| Volatility (ann.) | 57.4% | 19.5% |
| Beta vs S&P 500 | 2.37 | 1.28 |
| Max drawdown (3Y) | -55.2% | -22.7% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | CEVA | QQQM |
|---|---|---|
| 2022 | -40.8% | -32.5% |
| 2023 | -11.2% | +55.0% |
| 2024 | +38.9% | +25.7% |
| 2025 | -31.8% | +20.9% |
| 2026 | +32.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEVA and QQQM good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CEVA and QQQM?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.61 over the last year and 0.59 over 5 years.
Is QQQM a good diversifier for CEVA?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/ceva-vs-qqqm.json
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Related comparisons
Hubs: CEVA correlations · QQQM correlations
