CLS vs QQQ: Correlation
Celestica, Inc. (CLS) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and QQQ?
Over the past 3 years, CLS and QQQ moved with a correlation of 0.62, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.62 over 3 years. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 739.3 %².
Within CLS's tracked universe of 23 assets, QQQ comes in at #4 by 3-year correlation. The last year tells two different stories: CLS led by 30.7 percentage points, +57.0% for CLS against +26.3% for QQQ. One caveat on sizing: CLS is 3.1 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.
CLS vs QQQ: side by side
| CLS (Celestica, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.0% | +26.3% |
| 5-year return | +3251.4% | +95.4% |
| Volatility (ann.) | 60.6% | 19.6% |
| Beta vs S&P 500 | 2.49 | 1.28 |
| Max drawdown (3Y) | -54.0% | -22.8% |
| Market cap | $40.0B | – |
| P/E (trailing) | 32.0 | – |
| 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 | CLS | QQQ |
|---|---|---|
| 2022 | +1.3% | -32.6% |
| 2023 | +159.8% | +54.9% |
| 2024 | +215.2% | +25.6% |
| 2025 | +220.3% | +20.8% |
| 2026 | +7.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and QQQ good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLS and QQQ?
As of 2026-08-27, the correlation of weekly returns between CLS and QQQ is 0.62 over 3 years, 0.48 over 1 year and 0.57 over 5 years.
Is QQQ a good diversifier for CLS?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cls-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cls-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLS correlations · QQQ correlations
