CHDN vs QQQ: Correlation
How closely do Churchill Downs, Incorporated (CHDN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHDN and QQQ?
Across a 3-year window, the weekly returns of CHDN and QQQ correlate at 0.30, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.30 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 162.6 %².
QQQ is close to the least connected end of CHDN's tracked universe, ranking #8 of 11. The last year tells two different stories: QQQ led by 44.5 percentage points, -18.2% for CHDN 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.
CHDN vs QQQ: side by side
| CHDN (Churchill Downs, Incorporated) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -18.2% | +26.3% |
| 5-year return | -16.1% | +95.4% |
| Volatility (ann.) | 27.4% | 19.6% |
| Beta vs S&P 500 | 0.72 | 1.28 |
| Max drawdown (3Y) | -43.9% | -22.8% |
| Market cap | $6.0B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 0.50% | 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 | CHDN | QQQ |
|---|---|---|
| 2022 | -12.0% | -32.6% |
| 2023 | +28.1% | +54.9% |
| 2024 | -0.7% | +25.6% |
| 2025 | -14.5% | +20.8% |
| 2026 | -24.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHDN and QQQ good diversifiers for each other?
Reasonably. At 0.30, CHDN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHDN and QQQ?
As of 2026-08-27, the correlation of weekly returns between CHDN and QQQ is 0.30 over 3 years, 0.12 over 1 year and 0.42 over 5 years.
Is QQQ a good diversifier for CHDN?
Reasonably. At 0.30, CHDN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 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: CHDN correlations · QQQ correlations
