CRDL vs QQQ: Correlation
Cardiol Therapeutics Inc. - Class A (CRDL) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and QQQ?
Over the past 3 years, CRDL and QQQ moved with a correlation of 0.16, which is weak. The past 12 months show a weaker link (0.04) than the 3-year average (0.16). Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 247.4 %².
Out of 10 assets tracked against CRDL, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with CRDL ahead by 57.6 points (+83.9% versus +26.3%). Risk is not evenly split, since CRDL carries 3.9 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.
CRDL vs QQQ: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +83.9% | +26.3% |
| 5-year return | -43.7% | +95.4% |
| Volatility (ann.) | 77.0% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -72.7% | -22.8% |
| Market cap | $0.2B | – |
| 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 | CRDL | QQQ |
|---|---|---|
| 2022 | -72.4% | -32.6% |
| 2023 | +65.3% | +54.9% |
| 2024 | +51.8% | +25.6% |
| 2025 | -25.5% | +20.8% |
| 2026 | +115.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and QQQ good diversifiers for each other?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRDL and QQQ?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with 0.04 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for CRDL?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.16 mean?
A reading of 0.16 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/crdl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crdl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRDL correlations · QQQ correlations
