CHE vs QQQ: Correlation
How closely do Chemed Corp (CHE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHE and QQQ?
Over the past 3 years, CHE and QQQ moved with a correlation of 0.03, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: -0.04 over 1 year against 0.03 over 3. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 15.0 %².
Within CHE's tracked universe of 16 assets, QQQ comes in at #8 by 3-year correlation. Over the last 12 months QQQ came out ahead by 11.4 percentage points (+14.9% 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.
CHE vs QQQ: side by side
| CHE (Chemed Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.9% | +26.3% |
| 5-year return | +12.2% | +95.4% |
| Volatility (ann.) | 26.0% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -42.9% | -22.8% |
| Market cap | $6.8B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.44% | 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 | CHE | QQQ |
|---|---|---|
| 2022 | -3.2% | -32.6% |
| 2023 | +14.9% | +54.9% |
| 2024 | -9.1% | +25.6% |
| 2025 | -18.9% | +20.8% |
| 2026 | +22.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHE and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHE and QQQ?
The CHE/QQQ correlation stands at 0.03 on a 3-year window (1 year: -0.04, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CHE?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 mean?
On the −1 to +1 scale, 0.03 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/che-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/che-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHE correlations · QQQ correlations
