CLBT vs QQQ: Correlation
How closely do Cellebrite DI Ltd. (CLBT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBT and QQQ?
Across a 3-year window, the weekly returns of CLBT and QQQ correlate at 0.24, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 242.7 %².
Among the 12 assets we track against CLBT, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 51.7 percentage points (-25.4% for CLBT against +26.3% for QQQ). One caveat on sizing: CLBT 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.
CLBT vs QQQ: side by side
| CLBT (Cellebrite DI Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -25.4% | +26.3% |
| 5-year return | +22.2% | +95.4% |
| Volatility (ann.) | 52.1% | 19.6% |
| Beta vs S&P 500 | 0.97 | 1.28 |
| Max drawdown (3Y) | -59.8% | -22.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 51.2 | – |
| 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 | CLBT | QQQ |
|---|---|---|
| 2022 | -45.6% | -32.6% |
| 2023 | +98.6% | +54.9% |
| 2024 | +154.4% | +25.6% |
| 2025 | -18.2% | +20.8% |
| 2026 | -31.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBT and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLBT and QQQ?
The CLBT/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.19, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CLBT?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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
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Related comparisons
Hubs: CLBT correlations · QQQ correlations
