CGBD vs QQQ: Correlation
How closely do Carlyle Secured Lending, Inc. - Closed End Fund (CGBD) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGBD and QQQ?
Over the past 3 years, CGBD and QQQ moved with a correlation of 0.36, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 153.4 %².
Out of 18 assets tracked against CGBD, QQQ lands near the bottom at #14. The last year tells two different stories: QQQ led by 30.2 percentage points, -3.9% for CGBD against +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.
CGBD vs QQQ: side by side
| CGBD (Carlyle Secured Lending, Inc. - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.9% | +26.3% |
| 5-year return | +52.6% | +95.4% |
| Volatility (ann.) | 21.6% | 19.6% |
| Beta vs S&P 500 | 0.67 | 1.28 |
| Max drawdown (3Y) | -35.1% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 22.4 | – |
| Dividend yield | 13.68% | 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 | CGBD | QQQ |
|---|---|---|
| 2022 | +17.7% | -32.6% |
| 2023 | +18.0% | +54.9% |
| 2024 | +33.5% | +25.6% |
| 2025 | -21.5% | +20.8% |
| 2026 | +0.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGBD and QQQ good diversifiers for each other?
Reasonably. At 0.36, CGBD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CGBD and QQQ?
As of 2026-08-27, the correlation of weekly returns between CGBD and QQQ is 0.36 over 3 years, 0.42 over 1 year and 0.43 over 5 years.
Is QQQ a good diversifier for CGBD?
Reasonably. At 0.36, CGBD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 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/cgbd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgbd-vs-qqq/)
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Related comparisons
Hubs: CGBD correlations · QQQ correlations
