CHCO vs QQQ: Correlation
City Holding Company (CHCO) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHCO and QQQ?
On 3 years of weekly data the CHCO/QQQ correlation comes out at 0.17, weak. The link has loosened recently: the 1-year correlation (-0.16) runs below the 3-year figure (0.17). The 5-year figure is 0.23, and annualized covariance runs at 68.6 %².
QQQ is close to the least connected end of CHCO's tracked universe, ranking #13 of 16. Over the last 12 months QQQ came out ahead by 13.0 percentage points (+13.3% against +26.3%).
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.
CHCO vs QQQ: side by side
| CHCO (City Holding Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +13.3% | +26.3% |
| 5-year return | +113.1% | +95.4% |
| Volatility (ann.) | 20.7% | 19.6% |
| Beta vs S&P 500 | 0.45 | 1.28 |
| Max drawdown (3Y) | -18.4% | -22.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 2.41% | 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 | CHCO | QQQ |
|---|---|---|
| 2022 | +17.3% | -32.6% |
| 2023 | +22.0% | +54.9% |
| 2024 | +10.4% | +25.6% |
| 2025 | +3.4% | +20.8% |
| 2026 | +22.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHCO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHCO and QQQ?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with -0.16 over the last year and 0.23 over 5 years.
Is QQQ a good diversifier for CHCO?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 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.
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Related comparisons
Hubs: CHCO correlations · QQQ correlations
