CGC vs QQQ: Correlation
Measured on weekly returns over the past three years, Canopy Growth Corporation (CGC) and Invesco QQQ Trust (QQQ) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGC and QQQ?
Across a 3-year window, the weekly returns of CGC and QQQ correlate at 0.17, weak. Little has changed lately, as the 1-year reading of 0.11 lands near the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 441.8 %².
Among the 17 assets we track against CGC, QQQ sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 59.4 percentage points (-33.1% for CGC against +26.3% for QQQ). Note the risk asymmetry: CGC runs 6.8 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.
CGC vs QQQ: side by side
| CGC (Canopy Growth Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -33.1% | +26.3% |
| 5-year return | -99.4% | +95.4% |
| Volatility (ann.) | 133.1% | 19.6% |
| Beta vs S&P 500 | 1.82 | 1.28 |
| Max drawdown (3Y) | -95.1% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | CGC | QQQ |
|---|---|---|
| 2022 | -73.5% | -32.6% |
| 2023 | -77.9% | +54.9% |
| 2024 | -46.4% | +25.6% |
| 2025 | -58.4% | +20.8% |
| 2026 | -11.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.17, CGC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CGC and QQQ?
As of 2026-08-27, the correlation of weekly returns between CGC and QQQ is 0.17 over 3 years, 0.11 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for CGC?
Yes. With a correlation of 0.17, CGC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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/cgc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgc-vs-qqq/)
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Related comparisons
Hubs: CGC correlations · QQQ correlations
