CNX vs QQQ: Correlation
CNX Resources Corporation (CNX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.12.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNX and QQQ?
On 3 years of weekly data the CNX/QQQ correlation comes out at 0.12, weak. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (0.12). The 5-year figure is 0.16, and annualized covariance runs at 70.9 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against CNX. Neither side won the trailing year by much: +24.2% against +26.3%. One caveat on sizing: CNX is 1.5 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.
CNX vs QQQ: side by side
| CNX (CNX Resources Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.2% | +26.3% |
| 5-year return | +229.8% | +95.4% |
| Volatility (ann.) | 29.6% | 19.6% |
| Beta vs S&P 500 | 0.41 | 1.28 |
| Max drawdown (3Y) | -33.4% | -22.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 5.8 | – |
| 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 | CNX | QQQ |
|---|---|---|
| 2022 | +22.5% | -32.6% |
| 2023 | +18.8% | +54.9% |
| 2024 | +83.3% | +25.6% |
| 2025 | +0.3% | +20.8% |
| 2026 | -1.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNX and QQQ good diversifiers for each other?
Yes. With a correlation of 0.12, CNX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNX and QQQ?
The CNX/QQQ correlation stands at 0.12 on a 3-year window (1 year: -0.29, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CNX?
Yes. With a correlation of 0.12, CNX and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.12 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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[](https://www.pairbook.io/pair/cnx-vs-qqq/)
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Related comparisons
Hubs: CNX correlations · QQQ correlations
