CNA vs QQQ: Correlation
CNA Financial Corporation (CNA) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNA and QQQ?
Over the past 3 years, CNA and QQQ moved with a correlation of -0.05, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.05). Over 5 years the correlation is 0.11, and the annualized covariance of weekly returns is -17.8 %².
Out of 26 assets tracked against CNA, QQQ lands near the bottom at #22. Correlation aside, the last 12 months split them widely, with QQQ ahead by 18.7 points (+7.6% 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.
CNA vs QQQ: side by side
| CNA (CNA Financial Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +7.6% | +26.3% |
| 5-year return | +64.0% | +95.4% |
| Volatility (ann.) | 19.8% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -14.6% | -22.8% |
| Market cap | $13.2B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 3.80% | 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 | CNA | QQQ |
|---|---|---|
| 2022 | +3.8% | -32.6% |
| 2023 | +7.1% | +54.9% |
| 2024 | +24.0% | +25.6% |
| 2025 | +7.0% | +20.8% |
| 2026 | +10.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNA and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.05 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNA and QQQ?
As of 2026-08-27, the correlation of weekly returns between CNA and QQQ is -0.05 over 3 years, -0.33 over 1 year and 0.11 over 5 years.
Is QQQ a good diversifier for CNA?
By historical standards, yes. A correlation of -0.05 means the two rarely move for the same reasons.
What does a correlation of -0.05 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.
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Related comparisons
Hubs: CNA correlations · QQQ correlations
