CNOB vs QQQ: Correlation
ConnectOne Bancorp, Inc. (CNOB) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and QQQ?
Over the past 3 years, CNOB and QQQ moved with a correlation of 0.26, which is weak. The link has loosened recently: the 1-year correlation (0.13) runs below the 3-year figure (0.26). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 173.9 %².
Among the 17 assets we track against CNOB, QQQ sits near the bottom by co-movement, at rank #14. Neither side won the trailing year by much: +27.5% against +26.3%. One caveat on sizing: CNOB is 1.7 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.
CNOB vs QQQ: side by side
| CNOB (ConnectOne Bancorp, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +27.5% | +26.3% |
| 5-year return | +28.9% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 0.94 | 1.28 |
| Max drawdown (3Y) | -26.6% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.35% | 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 | CNOB | QQQ |
|---|---|---|
| 2022 | -24.4% | -32.6% |
| 2023 | -1.8% | +54.9% |
| 2024 | +3.3% | +25.6% |
| 2025 | +17.8% | +20.8% |
| 2026 | +24.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNOB and QQQ?
The CNOB/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.13, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CNOB?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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.
Use this data
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Related comparisons
Hubs: CNOB correlations · QQQ correlations
