CNNE vs QQQ: Correlation
Measured on weekly returns over the past three years, Cannae Holdings, Inc. (CNNE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNNE and QQQ?
Over the past 3 years, CNNE and QQQ moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 206.2 %².
QQQ is close to the least connected end of CNNE's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 40.1 percentage points (-13.8% for CNNE against +26.3% for QQQ). Note the risk asymmetry: CNNE runs 1.5 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.
CNNE vs QQQ: side by side
| CNNE (Cannae Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.8% | +26.3% |
| 5-year return | -47.5% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -50.0% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.88% | 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 | CNNE | QQQ |
|---|---|---|
| 2022 | -41.3% | -32.6% |
| 2023 | -5.5% | +54.9% |
| 2024 | +3.7% | +25.6% |
| 2025 | -18.3% | +20.8% |
| 2026 | +0.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNNE and QQQ good diversifiers for each other?
Reasonably. At 0.35, CNNE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CNNE and QQQ?
The CNNE/QQQ correlation stands at 0.35 on a 3-year window (1 year: 0.33, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CNNE?
Reasonably. At 0.35, CNNE and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CNNE correlations · QQQ correlations
