CPRT vs QQQ: Correlation
How closely do Copart (CPRT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPRT and QQQ?
Across a 3-year window, the weekly returns of CPRT and QQQ correlate at 0.43, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.43). Stretching to 5 years gives 0.57, with an annualized covariance of 220.5 %².
By 3-year correlation, QQQ places #20 of the 35 assets tracked against CPRT. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 58.9 percentage points (-32.6% for CPRT against +26.3% for QQQ). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.20 to 0.71.
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.
CPRT vs QQQ: side by side
| CPRT (Copart) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -32.6% | +26.3% |
| 5-year return | -9.3% | +95.4% |
| Volatility (ann.) | 26.0% | 19.6% |
| Beta vs S&P 500 | 0.86 | 1.28 |
| Max drawdown (3Y) | -57.4% | -22.8% |
| Market cap | $30.3B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | CPRT | QQQ |
|---|---|---|
| 2022 | -19.7% | -32.6% |
| 2023 | +60.9% | +54.9% |
| 2024 | +17.1% | +25.6% |
| 2025 | -31.8% | +20.8% |
| 2026 | -16.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CPRT represents 0.13% of QQQ's portfolio, so part of any move in QQQ is CPRT itself, and the correlation between them is partly mechanical.
Are CPRT and QQQ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CPRT and QQQ?
The CPRT/QQQ correlation stands at 0.43 on a 3-year window (1 year: 0.16, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CPRT?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/cprt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cprt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPRT correlations · QQQ correlations
