COKE vs QQQ: Correlation
Coca-Cola Consolidated, Inc. (COKE) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.05.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COKE and QQQ?
Over the past 3 years, COKE and QQQ moved with a correlation of 0.05, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.13) runs below the 3-year figure (0.05). Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 34.7 %².
Among the 10 assets we track against COKE, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months COKE outperformed by 40.5 percentage points (+66.8% for COKE against +26.3% for QQQ). One caveat on sizing: COKE is 1.7 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.
COKE vs QQQ: side by side
| COKE (Coca-Cola Consolidated, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +66.8% | +26.3% |
| 5-year return | +408.3% | +95.4% |
| Volatility (ann.) | 34.3% | 19.6% |
| Beta vs S&P 500 | 0.28 | 1.28 |
| Max drawdown (3Y) | -27.4% | -22.8% |
| Market cap | $13.0B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 0.52% | 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 | COKE | QQQ |
|---|---|---|
| 2022 | -17.1% | -32.6% |
| 2023 | +82.9% | +54.9% |
| 2024 | +38.7% | +25.6% |
| 2025 | +22.6% | +20.8% |
| 2026 | +27.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COKE and QQQ good diversifiers for each other?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COKE and QQQ?
Using weekly returns as of 2026-08-27: 0.05 over 3 years, with -0.13 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for COKE?
Yes: at 0.05, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.05 mean?
A reading of 0.05 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: COKE correlations · QQQ correlations
