CMS vs QQQ: Correlation
CMS Energy (CMS) and Invesco QQQ Trust (QQQ) show a negative relationship: their 3-year correlation of weekly returns is -0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and QQQ?
On 3 years of weekly data the CMS/QQQ correlation comes out at -0.12, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is 0.13, and annualized covariance runs at -39.4 %².
By 3-year correlation, QQQ places #31 of the 42 assets tracked against CMS. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 28.7 percentage points (-2.4% for CMS 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 -0.29 to 0.31.
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.
CMS vs QQQ: side by side
| CMS (CMS Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.4% | +26.3% |
| 5-year return | +23.8% | +95.4% |
| Volatility (ann.) | 16.2% | 19.6% |
| Beta vs S&P 500 | -0.01 | 1.28 |
| Max drawdown (3Y) | -13.2% | -22.8% |
| Market cap | $21.4B | – |
| P/E (trailing) | 20.8 | – |
| Dividend yield | 3.21% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | CMS | QQQ |
|---|---|---|
| 2022 | +0.2% | -32.6% |
| 2023 | -5.2% | +54.9% |
| 2024 | +18.6% | +25.6% |
| 2025 | +8.1% | +20.8% |
| 2026 | +0.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between CMS and QQQ?
The CMS/QQQ correlation stands at -0.12 on a 3-year window (1 year: -0.20, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CMS?
By historical standards, yes. A correlation of -0.12 means the two rarely move for the same reasons.
What does a correlation of -0.12 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/cms-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cms-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMS correlations · QQQ correlations
