CSAN vs QQQ: Correlation
How closely do Cosan S.A. (CSAN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSAN and QQQ?
Across a 3-year window, the weekly returns of CSAN and QQQ correlate at 0.17, weak. Recent behaviour matches the longer record: 0.11 over 1 year against 0.17 over 3. Stretching to 5 years gives 0.19, with an annualized covariance of 149.0 %².
Among the 11 assets we track against CSAN, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 58.3 percentage points (-32.0% for CSAN against +26.3% for QQQ). Note the risk asymmetry: CSAN runs 2.3 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.
CSAN vs QQQ: side by side
| CSAN (Cosan S.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -32.0% | +26.3% |
| 5-year return | -81.8% | +95.4% |
| Volatility (ann.) | 44.6% | 19.6% |
| Beta vs S&P 500 | 0.59 | 1.28 |
| Max drawdown (3Y) | -84.7% | -22.8% |
| Market cap | $2.8B | – |
| 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 | CSAN | QQQ |
|---|---|---|
| 2022 | -14.6% | -32.6% |
| 2023 | +23.2% | +54.9% |
| 2024 | -64.0% | +25.6% |
| 2025 | -27.4% | +20.8% |
| 2026 | -29.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSAN and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between CSAN and QQQ?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.11 over the last year and 0.19 over 5 years.
Is QQQ a good diversifier for CSAN?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
A reading of 0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CSAN correlations · QQQ correlations
