CNL vs QQQ: Correlation
How closely do Collective Mining Ltd. (CNL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNL and QQQ?
On 3 years of weekly data the CNL/QQQ correlation comes out at 0.15, weak. The past 12 months show a tighter link (0.36) than the 3-year average (0.15). The 5-year figure is 0.04, and annualized covariance runs at 177.4 %².
Among the 10 assets we track against CNL, QQQ sits near the bottom by co-movement, at rank #7. Twelve-month performance is nearly a tie, at +31.0% for CNL and +26.3% for QQQ. One caveat on sizing: CNL is 3.1 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.
CNL vs QQQ: side by side
| CNL (Collective Mining Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +31.0% | +26.3% |
| 5-year return | +565.6% | +95.4% |
| Volatility (ann.) | 59.9% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -51.6% | -22.8% |
| Market cap | $1.5B | – |
| 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 | CNL | QQQ |
|---|---|---|
| 2022 | -12.8% | -32.6% |
| 2023 | +67.4% | +54.9% |
| 2024 | +29.6% | +25.6% |
| 2025 | +250.7% | +20.8% |
| 2026 | +9.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNL and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNL and QQQ?
The CNL/QQQ correlation stands at 0.15 on a 3-year window (1 year: 0.36, 5 years: 0.04), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CNL?
By historical standards, yes. A correlation of 0.15 means the two rarely move for the same reasons.
What does a correlation of 0.15 mean?
A reading of 0.15 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CNL correlations · QQQ correlations
