COLD vs QQQ: Correlation
Americold Realty Trust, Inc. (COLD) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLD and QQQ?
On 3 years of weekly data the COLD/QQQ correlation comes out at 0.20, weak. Recent behaviour matches the longer record: 0.27 over 1 year against 0.20 over 3. The 5-year figure is 0.29, and annualized covariance runs at 141.6 %².
Out of 18 assets tracked against COLD, QQQ lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with QQQ ahead by 18.0 points (+8.3% versus +26.3%). Risk is not evenly split, since COLD carries 1.8 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.
COLD vs QQQ: side by side
| COLD (Americold Realty Trust, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +8.3% | +26.3% |
| 5-year return | -49.6% | +95.4% |
| Volatility (ann.) | 35.4% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -67.1% | -22.8% |
| Market cap | $4.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.02% | 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 | COLD | QQQ |
|---|---|---|
| 2022 | -10.9% | -32.6% |
| 2023 | +10.1% | +54.9% |
| 2024 | -26.7% | +25.6% |
| 2025 | -36.2% | +20.8% |
| 2026 | +21.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLD and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between COLD and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.27 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for COLD?
Yes, to a useful degree: a correlation of 0.20 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cold-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cold-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COLD correlations · QQQ correlations
