CHMI vs QQQ: Correlation
Cherry Hill Mortgage Investment Corporation (CHMI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHMI and QQQ?
Across a 3-year window, the weekly returns of CHMI and QQQ correlate at 0.26, weak. Recent behaviour matches the longer record: 0.17 over 1 year against 0.26 over 3. Stretching to 5 years gives 0.32, with an annualized covariance of 193.6 %².
Out of 13 assets tracked against CHMI, QQQ lands near the bottom at #10. The trailing year gives QQQ the advantage: +19.1% versus +26.3%, a 7.2-point spread. One caveat on sizing: CHMI is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CHMI vs QQQ: side by side
| CHMI (Cherry Hill Mortgage Investment Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +19.1% | +26.3% |
| 5-year return | -27.0% | +95.4% |
| Volatility (ann.) | 38.1% | 19.6% |
| Beta vs S&P 500 | 0.85 | 1.28 |
| Max drawdown (3Y) | -32.7% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 13.9 | – |
| Dividend yield | 13.65% | 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 | CHMI | QQQ |
|---|---|---|
| 2022 | -17.2% | -32.6% |
| 2023 | -18.9% | +54.9% |
| 2024 | -21.9% | +25.6% |
| 2025 | +14.9% | +20.8% |
| 2026 | +24.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHMI and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CHMI and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.17 over the last year and 0.32 over 5 years.
Is QQQ a good diversifier for CHMI?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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/chmi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chmi-vs-qqq/)
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Related comparisons
Hubs: CHMI correlations · QQQ correlations
