COHR vs QQQM: Correlation
Measured on weekly returns over the past three years, Coherent Corp. (COHR) and Invesco Nasdaq 100 ETF (QQQM) 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 QQQM?
On 3 years of weekly data the COHR/QQQM correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.62 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 789.5 %².
Among the 41 assets we track against COHR, QQQM ranks #12 by 3-year correlation. The last year tells two different stories: COHR led by 199.2 percentage points, +225.6% for COHR against +26.4% for QQQM. 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 QQQM: side by side
| COHR (Coherent Corp.) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +225.6% | +26.4% |
| 5-year return | +368.6% | +96.1% |
| Volatility (ann.) | 65.0% | 19.5% |
| Beta vs S&P 500 | 2.76 | 1.28 |
| Max drawdown (3Y) | -54.8% | -22.7% |
| Market cap | $57.8B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Information Technology | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | COHR | QQQM |
|---|---|---|
| 2022 | -48.6% | -32.5% |
| 2023 | +24.0% | +55.0% |
| 2024 | +117.6% | +25.7% |
| 2025 | +94.8% | +20.9% |
| 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 QQQM good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between COHR and QQQM?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.40 over the last year and 0.59 over 5 years.
Is QQQM a good diversifier for COHR?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cohr-vs-qqqm/)
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Related comparisons
Hubs: COHR correlations · QQQM correlations
