COF vs QQQ: Correlation
Measured on weekly returns over the past three years, Capital One (COF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COF and QQQ?
On 3 years of weekly data the COF/QQQ correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 286.3 %².
By 3-year correlation, QQQ places #19 of the 29 assets tracked against COF. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 28.3 percentage points (-2.0% for COF against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between 0.10 and 0.73 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: COF runs 1.6 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.
COF vs QQQ: side by side
| COF (Capital One) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.0% | +26.3% |
| 5-year return | +43.2% | +95.4% |
| Volatility (ann.) | 30.6% | 19.6% |
| Beta vs S&P 500 | 1.28 | 1.28 |
| Max drawdown (3Y) | -31.5% | -22.8% |
| Market cap | $132.9B | – |
| P/E (trailing) | 12.0 | – |
| Dividend yield | 1.38% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | COF | QQQ |
|---|---|---|
| 2022 | -34.6% | -32.6% |
| 2023 | +44.3% | +54.9% |
| 2024 | +38.2% | +25.6% |
| 2025 | +37.6% | +20.8% |
| 2026 | -9.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COF and QQQ good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between COF and QQQ?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.44 over the last year and 0.51 over 5 years.
Is QQQ a good diversifier for COF?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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: COF correlations · QQQ correlations
