CRDO vs QQQM: Correlation
How closely do Credo Technology Group Holding Ltd (CRDO) and Invesco Nasdaq 100 ETF (QQQM) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDO and QQQM?
Over the past 3 years, CRDO and QQQM moved with a correlation of 0.67, which is strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.67 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1111.3 %².
Within CRDO's tracked universe of 20 assets, QQQM comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CRDO outperformed by 69.3 percentage points (+95.7% for CRDO against +26.4% for QQQM). One caveat on sizing: CRDO is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQM: side by side
| CRDO (Credo Technology Group Holding Ltd) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +95.7% | +26.4% |
| 5-year return | +1962.1% | +96.1% |
| Volatility (ann.) | 84.8% | 19.5% |
| Beta vs S&P 500 | 3.44 | 1.28 |
| Max drawdown (3Y) | -61.1% | -22.7% |
| Market cap | $45.1B | – |
| P/E (trailing) | 90.0 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | CRDO | QQQM |
|---|---|---|
| 2022 | – | -32.5% |
| 2023 | +46.3% | +55.0% |
| 2024 | +245.2% | +25.7% |
| 2025 | +114.1% | +20.9% |
| 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 QQQM good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRDO and QQQM?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.75 over the last year and 0.54 over 5 years.
Is QQQM a good diversifier for CRDO?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
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-qqqm.json
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Related comparisons
Hubs: CRDO correlations · QQQM correlations
