CMCO vs QQQ: Correlation
How closely do Columbus McKinnon Corporation (CMCO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and QQQ?
On 3 years of weekly data the CMCO/QQQ correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.33 over 3. The 5-year figure is 0.40, and annualized covariance runs at 325.8 %².
Among the 15 assets we track against CMCO, QQQ ranks #10 by 3-year correlation. Their 12-month results are close: +23.3% for CMCO against +26.3% for QQQ. Note the risk asymmetry: CMCO runs 2.6 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.
CMCO vs QQQ: side by side
| CMCO (Columbus McKinnon Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.3% | +26.3% |
| 5-year return | -58.0% | +95.4% |
| Volatility (ann.) | 50.1% | 19.6% |
| Beta vs S&P 500 | 1.42 | 1.28 |
| Max drawdown (3Y) | -72.8% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.56% | 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 | CMCO | QQQ |
|---|---|---|
| 2022 | -29.3% | -32.6% |
| 2023 | +21.1% | +54.9% |
| 2024 | -3.9% | +25.6% |
| 2025 | -52.9% | +20.8% |
| 2026 | +7.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and QQQ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMCO and QQQ?
As of 2026-08-27, the correlation of weekly returns between CMCO and QQQ is 0.33 over 3 years, 0.38 over 1 year and 0.40 over 5 years.
Is QQQ a good diversifier for CMCO?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CMCO correlations · QQQ correlations
