CMI vs QQQ: Correlation
Measured on weekly returns over the past three years, Cummins (CMI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMI and QQQ?
Over the past 3 years, CMI and QQQ moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 260.6 %².
Among the 36 assets we track against CMI, QQQ ranks #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CMI ahead by 18.8 points (+45.1% versus +26.3%). This link changes with the market regime, having swung between 0.18 and 0.79 on a rolling one-year basis.
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.
CMI vs QQQ: side by side
| CMI (Cummins) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +45.1% | +26.3% |
| 5-year return | +169.6% | +95.4% |
| Volatility (ann.) | 25.9% | 19.6% |
| Beta vs S&P 500 | 1.05 | 1.28 |
| Max drawdown (3Y) | -30.5% | -22.8% |
| Market cap | $79.0B | – |
| P/E (trailing) | 29.6 | – |
| Dividend yield | 1.38% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | CMI | QQQ |
|---|---|---|
| 2022 | +14.1% | -32.6% |
| 2023 | +1.7% | +54.9% |
| 2024 | +48.9% | +25.6% |
| 2025 | +49.4% | +20.8% |
| 2026 | +13.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMI and QQQ good diversifiers for each other?
Only partially. A correlation of 0.51 means CMI and QQQ 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 CMI and QQQ?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.42 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for CMI?
Only partially. A correlation of 0.51 means CMI and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/cmi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmi-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMI correlations · QQQ correlations
