CNC vs QQQ: Correlation
How closely do Centene Corporation (CNC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and QQQ?
Across a 3-year window, the weekly returns of CNC and QQQ correlate at 0.09, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.27) than the 3-year average (0.09). Stretching to 5 years gives 0.15, with an annualized covariance of 82.2 %².
Among the 30 assets we track against CNC, QQQ ranks #19 by 3-year correlation. The last year tells two different stories: CNC led by 100.2 percentage points, +126.5% for CNC against +26.3% for QQQ. On a rolling one-year basis the correlation drifted between -0.17 and 0.26, a moderate band. Note the risk asymmetry: CNC runs 2.3 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.
CNC vs QQQ: side by side
| CNC (Centene Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +126.5% | +26.3% |
| 5-year return | +3.3% | +95.4% |
| Volatility (ann.) | 45.4% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -68.6% | -22.8% |
| Market cap | $32.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | CNC | QQQ |
|---|---|---|
| 2022 | -0.5% | -32.6% |
| 2023 | -9.5% | +54.9% |
| 2024 | -18.4% | +25.6% |
| 2025 | -32.1% | +20.8% |
| 2026 | +58.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, CNC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNC and QQQ?
As of 2026-08-27, the correlation of weekly returns between CNC and QQQ is 0.09 over 3 years, 0.27 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for CNC?
Yes. With a correlation of 0.09, CNC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
A reading of 0.09 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNC correlations · QQQ correlations
