CRDF vs QQQ: Correlation
Measured on weekly returns over the past three years, Cardiff Oncology, Inc. (CRDF) 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 CRDF and QQQ?
Over the past 3 years, CRDF and QQQ moved with a correlation of 0.24, which is weak. Lately the two have moved closer together, with the 1-year correlation at 0.43 versus 0.24 over 3 years. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 467.3 %².
Out of 13 assets tracked against CRDF, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 80.9 percentage points, -54.6% for CRDF against +26.3% for QQQ. Note the risk asymmetry: CRDF runs 5.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CRDF vs QQQ: side by side
| CRDF (Cardiff Oncology, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -54.6% | +26.3% |
| 5-year return | -86.7% | +95.4% |
| Volatility (ann.) | 100.0% | 19.6% |
| Beta vs S&P 500 | 1.60 | 1.28 |
| Max drawdown (3Y) | -86.3% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | CRDF | QQQ |
|---|---|---|
| 2022 | -76.7% | -32.6% |
| 2023 | +5.7% | +54.9% |
| 2024 | +193.2% | +25.6% |
| 2025 | -35.3% | +20.8% |
| 2026 | -64.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDF and QQQ good diversifiers for each other?
Reasonably. At 0.24, CRDF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRDF and QQQ?
The CRDF/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.43, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CRDF?
Reasonably. At 0.24, CRDF and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crdf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crdf-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRDF correlations · QQQ correlations
