CLS vs QQQM: Correlation
Measured on weekly returns over the past three years, Celestica, Inc. (CLS) and Invesco Nasdaq 100 ETF (QQQM) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and QQQM?
Across a 3-year window, the weekly returns of CLS and QQQM correlate at 0.62, strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.62). Stretching to 5 years gives 0.57, with an annualized covariance of 736.4 %².
Within CLS's tracked universe of 23 assets, QQQM comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CLS ahead by 30.6 points (+57.0% versus +26.4%). Risk is not evenly split, since CLS carries 3.1 times the volatility of the other side.
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 QQQM: side by side
| CLS (Celestica, Inc.) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +57.0% | +26.4% |
| 5-year return | +3251.4% | +96.1% |
| Volatility (ann.) | 60.6% | 19.5% |
| Beta vs S&P 500 | 2.49 | 1.28 |
| Max drawdown (3Y) | -54.0% | -22.7% |
| Market cap | $40.0B | – |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | CLS | QQQM |
|---|---|---|
| 2022 | +1.3% | -32.5% |
| 2023 | +159.8% | +55.0% |
| 2024 | +215.2% | +25.7% |
| 2025 | +220.3% | +20.9% |
| 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 QQQM good diversifiers for each other?
Only partially. A correlation of 0.62 means CLS and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CLS and QQQM?
The CLS/QQQM correlation stands at 0.62 on a 3-year window (1 year: 0.48, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is QQQM a good diversifier for CLS?
Only partially. A correlation of 0.62 means CLS and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cls-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLS correlations · QQQM correlations
