CRDO vs QQQ: Correlation
Credo Technology Group Holding Ltd (CRDO) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDO and QQQ?
On 3 years of weekly data the CRDO/QQQ correlation comes out at 0.67, strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 1113.5 %².
Among the 20 assets we track against CRDO, QQQ ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CRDO outperformed by 69.4 percentage points (+95.7% for CRDO against +26.3% for QQQ). Risk is not evenly split, since CRDO carries 4.3 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.
CRDO vs QQQ: side by side
| CRDO (Credo Technology Group Holding Ltd) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +95.7% | +26.3% |
| 5-year return | +1962.1% | +95.4% |
| Volatility (ann.) | 84.8% | 19.6% |
| Beta vs S&P 500 | 3.44 | 1.28 |
| Max drawdown (3Y) | -61.1% | -22.8% |
| Market cap | $45.1B | – |
| P/E (trailing) | 90.0 | – |
| 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 | CRDO | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +46.3% | +54.9% |
| 2024 | +245.2% | +25.6% |
| 2025 | +114.1% | +20.8% |
| 2026 | +67.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDO and QQQ good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRDO and QQQ?
The CRDO/QQQ correlation stands at 0.67 on a 3-year window (1 year: 0.75, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CRDO?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 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/crdo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crdo-vs-qqq/)
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Related comparisons
Hubs: CRDO correlations · QQQ correlations
