CM vs QQQ: Correlation
How closely do Canadian Imperial Bank of Commerce (CM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CM and QQQ?
On 3 years of weekly data the CM/QQQ correlation comes out at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 120.6 %².
QQQ is close to the least connected end of CM's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with CM ahead by 28.5 points (+54.8% versus +26.3%).
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.
CM vs QQQ: side by side
| CM (Canadian Imperial Bank of Commerce) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +54.8% | +26.3% |
| 5-year return | +145.1% | +95.4% |
| Volatility (ann.) | 19.2% | 19.6% |
| Beta vs S&P 500 | 0.57 | 1.28 |
| Max drawdown (3Y) | -17.4% | -22.8% |
| Market cap | $104.3B | – |
| P/E (trailing) | 16.2 | – |
| 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 | CM | QQQ |
|---|---|---|
| 2022 | -26.8% | -32.6% |
| 2023 | +26.5% | +54.9% |
| 2024 | +37.8% | +25.6% |
| 2025 | +46.5% | +20.8% |
| 2026 | +28.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CM and QQQ good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CM and QQQ?
The CM/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.29, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CM?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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/cm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cm-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CM correlations · QQQ correlations
