CPT vs QQQ: Correlation
Measured on weekly returns over the past three years, Camden Property Trust (CPT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.24, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPT and QQQ?
Over the past 3 years, CPT and QQQ moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.24 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 99.5 %².
Among the 33 assets we track against CPT, QQQ ranks #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 26.7 percentage points (-0.4% for CPT against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between -0.13 and 0.51 over the past three years, so this pair behaves very differently depending on the market environment.
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.
CPT vs QQQ: side by side
| CPT (Camden Property Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.4% | +26.3% |
| 5-year return | -15.4% | +95.4% |
| Volatility (ann.) | 21.3% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -21.7% | -22.8% |
| Market cap | $12.2B | – |
| P/E (trailing) | 35.5 | – |
| Dividend yield | 3.92% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Real Estate | 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 | CPT | QQQ |
|---|---|---|
| 2022 | -35.6% | -32.6% |
| 2023 | -7.6% | +54.9% |
| 2024 | +21.3% | +25.6% |
| 2025 | -1.5% | +20.8% |
| 2026 | -2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CPT and QQQ?
The CPT/QQQ correlation stands at 0.24 on a 3-year window (1 year: -0.10, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CPT?
Yes, to a useful degree: a correlation of 0.24 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.24 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.
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Related comparisons
Hubs: CPT correlations · QQQ correlations
