CF vs QQQM: Correlation
CF Industries (CF) and Invesco Nasdaq 100 ETF (QQQM) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CF and QQQM?
On 3 years of weekly data the CF/QQQM correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.16). The 5-year figure is -0.03, and annualized covariance runs at -102.1 %².
Within CF's tracked universe of 50 assets, QQQM comes in at #26 by 3-year correlation. The last year tells two different stories: CF led by 22.2 percentage points, +48.6% for CF against +26.4% for QQQM. The relationship is regime-dependent: the rolling one-year correlation swung between -0.43 and 0.20 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since CF 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.
CF vs QQQM: side by side
| CF (CF Industries) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +48.6% | +26.4% |
| 5-year return | +211.5% | +96.1% |
| Volatility (ann.) | 32.8% | 19.5% |
| Beta vs S&P 500 | -0.20 | 1.28 |
| Max drawdown (3Y) | -29.2% | -22.7% |
| Market cap | $19.0B | – |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 1.59% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Materials | 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 | CF | QQQM |
|---|---|---|
| 2022 | +22.3% | -32.5% |
| 2023 | -4.7% | +55.0% |
| 2024 | +10.1% | +25.7% |
| 2025 | -7.2% | +20.9% |
| 2026 | +64.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CF and QQQM good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between CF and QQQM?
The CF/QQQM correlation stands at -0.16 on a 3-year window (1 year: -0.45, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is QQQM a good diversifier for CF?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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/cf-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cf-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CF correlations · QQQM correlations
