CFG vs QQQ: Correlation
Measured on weekly returns over the past three years, Citizens Financial Group (CFG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and QQQ?
Across a 3-year window, the weekly returns of CFG and QQQ correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.38 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 228.8 %².
Within CFG's tracked universe of 46 assets, QQQ comes in at #36 by 3-year correlation. On 12-month performance CFG holds a 13.0-point edge, +39.3% against +26.3%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.06 and 0.67 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: CFG is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CFG vs QQQ: side by side
| CFG (Citizens Financial Group) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +39.3% | +26.3% |
| 5-year return | +98.3% | +95.4% |
| Volatility (ann.) | 31.0% | 19.6% |
| Beta vs S&P 500 | 1.16 | 1.28 |
| Max drawdown (3Y) | -29.1% | -22.8% |
| Market cap | $29.6B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.55% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | CFG | QQQ |
|---|---|---|
| 2022 | -13.4% | -32.6% |
| 2023 | -11.0% | +54.9% |
| 2024 | +38.0% | +25.6% |
| 2025 | +38.6% | +20.8% |
| 2026 | +22.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and QQQ good diversifiers for each other?
Reasonably. At 0.38, CFG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CFG and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.12 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for CFG?
Reasonably. At 0.38, CFG and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/cfg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cfg-vs-qqq/)
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Related comparisons
Hubs: CFG correlations · QQQ correlations
