CNDT vs QQQ: Correlation
How closely do Conduent Incorporated (CNDT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNDT and QQQ?
On 3 years of weekly data the CNDT/QQQ correlation comes out at 0.21, weak. The link has tightened recently: the 1-year correlation (0.32) runs above the 3-year figure (0.21). The 5-year figure is 0.27, and annualized covariance runs at 244.8 %².
QQQ is close to the least connected end of CNDT's tracked universe, ranking #10 of 13. The last year tells two different stories: QQQ led by 65.2 percentage points, -38.9% for CNDT against +26.3% for QQQ. One caveat on sizing: CNDT is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CNDT vs QQQ: side by side
| CNDT (Conduent Incorporated) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -38.9% | +26.3% |
| 5-year return | -75.2% | +95.4% |
| Volatility (ann.) | 59.4% | 19.6% |
| Beta vs S&P 500 | 1.11 | 1.28 |
| Max drawdown (3Y) | -73.8% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | CNDT | QQQ |
|---|---|---|
| 2022 | -24.2% | -32.6% |
| 2023 | -9.9% | +54.9% |
| 2024 | +10.7% | +25.6% |
| 2025 | -52.5% | +20.8% |
| 2026 | -9.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNDT and QQQ good diversifiers for each other?
Reasonably. At 0.21, CNDT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNDT and QQQ?
As of 2026-08-27, the correlation of weekly returns between CNDT and QQQ is 0.21 over 3 years, 0.32 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for CNDT?
Reasonably. At 0.21, CNDT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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/cndt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cndt-vs-qqq/)
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Related comparisons
Hubs: CNDT correlations · QQQ correlations
