COHR vs QQQ: Correlation
Measured on weekly returns over the past three years, Coherent Corp. (COHR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and QQQ?
Across a 3-year window, the weekly returns of COHR and QQQ correlate at 0.62, strong. The past 12 months show a weaker link (0.39) than the 3-year average (0.62). Stretching to 5 years gives 0.59, with an annualized covariance of 792.9 %².
By 3-year correlation, QQQ places #11 of the 41 assets tracked against COHR. Correlation aside, the last 12 months split them widely, with COHR ahead by 199.3 points (+225.6% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.26 and 0.82 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since COHR carries 3.3 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.
COHR vs QQQ: side by side
| COHR (Coherent Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +225.6% | +26.3% |
| 5-year return | +368.6% | +95.4% |
| Volatility (ann.) | 65.0% | 19.6% |
| Beta vs S&P 500 | 2.76 | 1.28 |
| Max drawdown (3Y) | -54.8% | -22.8% |
| Market cap | $57.8B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | COHR | QQQ |
|---|---|---|
| 2022 | -48.6% | -32.6% |
| 2023 | +24.0% | +54.9% |
| 2024 | +117.6% | +25.6% |
| 2025 | +94.8% | +20.8% |
| 2026 | +60.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and QQQ good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between COHR and QQQ?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.39 over the last year and 0.59 over 5 years.
Is QQQ a good diversifier for COHR?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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
$ curl https://www.pairbook.io/api/v1/pairs/cohr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cohr-vs-qqq/)
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Related comparisons
Hubs: COHR correlations · QQQ correlations
