CFR vs QQQ: Correlation
How closely do Cullen/Frost Bankers, Inc. (CFR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFR and QQQ?
On 3 years of weekly data the CFR/QQQ correlation comes out at 0.27, weak. The past 12 months show a weaker link (-0.11) than the 3-year average (0.27). The 5-year figure is 0.26, and annualized covariance runs at 136.2 %².
Out of 12 assets tracked against CFR, QQQ lands near the bottom at #9. Twelve-month performance is nearly a tie, at +26.1% for CFR and +26.3% for QQQ.
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.
CFR vs QQQ: side by side
| CFR (Cullen/Frost Bankers, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.1% | +26.3% |
| 5-year return | +64.2% | +95.4% |
| Volatility (ann.) | 25.6% | 19.6% |
| Beta vs S&P 500 | 0.76 | 1.28 |
| Max drawdown (3Y) | -26.5% | -22.8% |
| Market cap | $10.0B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.47% | 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 | CFR | QQQ |
|---|---|---|
| 2022 | +8.7% | -32.6% |
| 2023 | -16.1% | +54.9% |
| 2024 | +27.9% | +25.6% |
| 2025 | -2.8% | +20.8% |
| 2026 | +29.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CFR and QQQ?
As of 2026-08-27, the correlation of weekly returns between CFR and QQQ is 0.27 over 3 years, -0.11 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for CFR?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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/cfr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cfr-vs-qqq/)
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Related comparisons
Hubs: CFR correlations · QQQ correlations
