CLDI vs QQQ: Correlation
Measured on weekly returns over the past three years, Calidi Biotherapeutics, Inc. (CLDI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.09, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDI and QQQ?
Across a 3-year window, the weekly returns of CLDI and QQQ correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.41) than the 3-year average (0.09). Stretching to 5 years gives 0.06, with an annualized covariance of 325.4 %².
Among the 14 assets we track against CLDI, QQQ ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 121.4 percentage points (-95.1% for CLDI against +26.3% for QQQ). One caveat on sizing: CLDI is 9.3 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.
CLDI vs QQQ: side by side
| CLDI (Calidi Biotherapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -95.1% | +26.3% |
| 5-year return | -100.0% | +95.4% |
| Volatility (ann.) | 182.9% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -100.0% | -22.8% |
| Market cap | – | – |
| 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 | CLDI | QQQ |
|---|---|---|
| 2022 | +3.7% | -32.6% |
| 2023 | -85.2% | +54.9% |
| 2024 | -92.4% | +25.6% |
| 2025 | -91.5% | +20.8% |
| 2026 | -93.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDI and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, CLDI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLDI and QQQ?
As of 2026-08-27, the correlation of weekly returns between CLDI and QQQ is 0.09 over 3 years, 0.41 over 1 year and 0.06 over 5 years.
Is QQQ a good diversifier for CLDI?
Yes. With a correlation of 0.09, CLDI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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/cldi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldi-vs-qqq/)
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Related comparisons
Hubs: CLDI correlations · QQQ correlations
