CLB vs QQQ: Correlation
Core Laboratories Inc. (CLB) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and QQQ?
Across a 3-year window, the weekly returns of CLB and QQQ correlate at 0.18, weak. The relationship has been stable: the 1-year correlation (0.13) sits close to the 3-year figure. Stretching to 5 years gives 0.22, with an annualized covariance of 184.1 %².
Out of 15 assets tracked against CLB, QQQ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 15.7 percentage points (+10.6% for CLB against +26.3% for QQQ). One caveat on sizing: CLB is 2.7 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.
CLB vs QQQ: side by side
| CLB (Core Laboratories Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.6% | +26.3% |
| 5-year return | -55.8% | +95.4% |
| Volatility (ann.) | 53.1% | 19.6% |
| Beta vs S&P 500 | 0.91 | 1.28 |
| Max drawdown (3Y) | -62.5% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.33% | 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 | CLB | QQQ |
|---|---|---|
| 2022 | -9.0% | -32.6% |
| 2023 | -12.7% | +54.9% |
| 2024 | -1.8% | +25.6% |
| 2025 | -7.1% | +20.8% |
| 2026 | -23.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLB and QQQ?
As of 2026-08-27, the correlation of weekly returns between CLB and QQQ is 0.18 over 3 years, 0.13 over 1 year and 0.22 over 5 years.
Is QQQ a good diversifier for CLB?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 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: CLB correlations · QQQ correlations
