CLWT vs QQQ: Correlation
How closely do Euro Tech Holdings Company Limited (CLWT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLWT and QQQ?
Over the past 3 years, CLWT and QQQ moved with a correlation of 0.13, which is weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.13 over 3. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 126.6 %².
Within CLWT's tracked universe of 16 assets, QQQ comes in at #7 by 3-year correlation. Their 12-month results are close: +22.4% for CLWT against +26.3% for QQQ. Note the risk asymmetry: CLWT runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CLWT vs QQQ: side by side
| CLWT (Euro Tech Holdings Company Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +22.4% | +26.3% |
| 5-year return | -52.6% | +95.4% |
| Volatility (ann.) | 49.8% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -44.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 83.2 | – |
| 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 | CLWT | QQQ |
|---|---|---|
| 2022 | -53.6% | -32.6% |
| 2023 | +14.7% | +54.9% |
| 2024 | -11.2% | +25.6% |
| 2025 | -13.7% | +20.8% |
| 2026 | +38.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLWT and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, CLWT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLWT and QQQ?
As of 2026-08-27, the correlation of weekly returns between CLWT and QQQ is 0.13 over 3 years, 0.21 over 1 year and 0.21 over 5 years.
Is QQQ a good diversifier for CLWT?
Yes. With a correlation of 0.13, CLWT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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/clwt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clwt-vs-qqq/)
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Related comparisons
Hubs: CLWT correlations · QQQ correlations
