CPAY vs QQQ: Correlation
Corpay (CPAY) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and QQQ?
Over the past 3 years, CPAY and QQQ moved with a correlation of 0.43, which is moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.43). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 263.7 %².
Within CPAY's tracked universe of 32 assets, QQQ comes in at #22 by 3-year correlation. Twelve-month performance is nearly a tie, at +24.1% for CPAY and +26.3% for QQQ. This link changes with the market regime, having swung between 0.13 and 0.68 on a rolling one-year basis. Risk is not evenly split, since CPAY carries 1.6 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.
CPAY vs QQQ: side by side
| CPAY (Corpay) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.1% | +26.3% |
| 5-year return | +55.2% | +95.4% |
| Volatility (ann.) | 31.7% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -34.5% | -22.8% |
| Market cap | $26.5B | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 0.00% | 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 | CPAY | QQQ |
|---|---|---|
| 2022 | -17.9% | -32.6% |
| 2023 | +53.9% | +54.9% |
| 2024 | +19.7% | +25.6% |
| 2025 | -11.1% | +20.8% |
| 2026 | +34.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and QQQ good diversifiers for each other?
Reasonably. At 0.43, CPAY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CPAY and QQQ?
As of 2026-08-27, the correlation of weekly returns between CPAY and QQQ is 0.43 over 3 years, 0.30 over 1 year and 0.48 over 5 years.
Is QQQ a good diversifier for CPAY?
Reasonably. At 0.43, CPAY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cpay-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpay-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPAY correlations · QQQ correlations
