CRGO vs QQQ: Correlation
How closely do Freightos Limited (CRGO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and QQQ?
Over the past 3 years, CRGO and QQQ moved with a correlation of 0.31, which is moderate. The relationship has been stable: the 1-year correlation (0.25) sits close to the 3-year figure. Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 505.8 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against CRGO. Correlation aside, the last 12 months split them widely, with QQQ ahead by 88.0 points (-61.7% versus +26.3%). Risk is not evenly split, since CRGO carries 4.2 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.
CRGO vs QQQ: side by side
| CRGO (Freightos Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -61.7% | +26.3% |
| 5-year return | -86.7% | +95.4% |
| Volatility (ann.) | 82.7% | 19.6% |
| Beta vs S&P 500 | 1.79 | 1.28 |
| Max drawdown (3Y) | -72.6% | -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 | CRGO | QQQ |
|---|---|---|
| 2022 | +4.2% | -32.6% |
| 2023 | -67.3% | +54.9% |
| 2024 | -8.4% | +25.6% |
| 2025 | -25.2% | +20.8% |
| 2026 | -43.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CRGO and QQQ?
As of 2026-08-27, the correlation of weekly returns between CRGO and QQQ is 0.31 over 3 years, 0.25 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for CRGO?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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
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Related comparisons
Hubs: CRGO correlations · QQQ correlations
