CODA vs QQQ: Correlation
Measured on weekly returns over the past three years, Coda Octopus Group, Inc. (CODA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODA and QQQ?
Across a 3-year window, the weekly returns of CODA and QQQ correlate at 0.21, weak. Recent behaviour matches the longer record: 0.29 over 1 year against 0.21 over 3. Stretching to 5 years gives 0.19, with an annualized covariance of 173.6 %².
Among the 10 assets we track against CODA, QQQ sits near the bottom by co-movement, at rank #7. On 12-month performance CODA holds a 9.7-point edge, +36.0% against +26.3%. Risk is not evenly split, since CODA carries 2.2 times the volatility of the other side.
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.
CODA vs QQQ: side by side
| CODA (Coda Octopus Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +36.0% | +26.3% |
| 5-year return | +13.9% | +95.4% |
| Volatility (ann.) | 42.9% | 19.6% |
| Beta vs S&P 500 | 0.67 | 1.28 |
| Max drawdown (3Y) | -44.9% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 23.2 | – |
| 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 | CODA | QQQ |
|---|---|---|
| 2022 | -14.2% | -32.6% |
| 2023 | -12.2% | +54.9% |
| 2024 | +30.1% | +25.6% |
| 2025 | +18.8% | +20.8% |
| 2026 | +12.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODA and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CODA and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.29 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for CODA?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined 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.
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Related comparisons
Hubs: CODA correlations · QQQ correlations
