CHGG vs QQQ: Correlation
Chegg, Inc. (CHGG) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGG and QQQ?
Over the past 3 years, CHGG and QQQ moved with a correlation of 0.20, which is weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 390.0 %².
Out of 10 assets tracked against CHGG, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 65.6 percentage points (-39.3% for CHGG against +26.3% for QQQ). Note the risk asymmetry: CHGG runs 5.0 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.
CHGG vs QQQ: side by side
| CHGG (Chegg, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -39.3% | +26.3% |
| 5-year return | -99.0% | +95.4% |
| Volatility (ann.) | 97.4% | 19.6% |
| Beta vs S&P 500 | 1.77 | 1.28 |
| Max drawdown (3Y) | -96.1% | -22.8% |
| Market cap | $0.1B | – |
| 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 | CHGG | QQQ |
|---|---|---|
| 2022 | -17.7% | -32.6% |
| 2023 | -55.0% | +54.9% |
| 2024 | -85.8% | +25.6% |
| 2025 | -42.2% | +20.8% |
| 2026 | -13.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHGG and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.13 over the last year and 0.20 over 5 years.
Is QQQ a good diversifier for CHGG?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CHGG correlations · QQQ correlations
