CME vs QQQ: Correlation
Measured on weekly returns over the past three years, CME Group (CME) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and QQQ?
Across a 3-year window, the weekly returns of CME and QQQ correlate at 0.04, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.02 lands near the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 14.0 %².
By 3-year correlation, QQQ places #20 of the 47 assets tracked against CME. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 18.2 percentage points (+8.1% for CME against +26.3% for QQQ). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.17 to 0.38.
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.
CME vs QQQ: side by side
| CME (CME Group) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.1% | +26.3% |
| 5-year return | +73.9% | +95.4% |
| Volatility (ann.) | 20.0% | 19.6% |
| Beta vs S&P 500 | 0.12 | 1.28 |
| Max drawdown (3Y) | -31.1% | -22.8% |
| Market cap | $101.0B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 1.82% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | CME | QQQ |
|---|---|---|
| 2022 | -22.9% | -32.6% |
| 2023 | +31.3% | +54.9% |
| 2024 | +15.4% | +25.6% |
| 2025 | +19.8% | +20.8% |
| 2026 | +5.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and QQQ good diversifiers for each other?
Yes. With a correlation of 0.04, CME and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CME and QQQ?
As of 2026-08-27, the correlation of weekly returns between CME and QQQ is 0.04 over 3 years, -0.02 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for CME?
Yes. With a correlation of 0.04, CME and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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/cme-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cme-vs-qqq/)
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Related comparisons
Hubs: CME correlations · QQQ correlations
