CSL vs QQQ: Correlation
Carlisle Companies Incorporated (CSL) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and QQQ?
On 3 years of weekly data the CSL/QQQ correlation comes out at 0.35, moderate. The past 12 months show a weaker link (0.07) than the 3-year average (0.35). The 5-year figure is 0.38, and annualized covariance runs at 232.8 %².
Out of 19 assets tracked against CSL, QQQ lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with QQQ ahead by 32.7 points (-6.4% versus +26.3%). Note the risk asymmetry: CSL runs 1.7 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.
CSL vs QQQ: side by side
| CSL (Carlisle Companies Incorporated) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.4% | +26.3% |
| 5-year return | +78.0% | +95.4% |
| Volatility (ann.) | 33.9% | 19.6% |
| Beta vs S&P 500 | 1.10 | 1.28 |
| Max drawdown (3Y) | -37.7% | -22.8% |
| Market cap | $14.3B | – |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 1.20% | 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 | CSL | QQQ |
|---|---|---|
| 2022 | -4.1% | -32.6% |
| 2023 | +34.3% | +54.9% |
| 2024 | +19.1% | +25.6% |
| 2025 | -12.3% | +20.8% |
| 2026 | +13.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and QQQ good diversifiers for each other?
Reasonably. At 0.35, CSL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CSL and QQQ?
The CSL/QQQ correlation stands at 0.35 on a 3-year window (1 year: 0.07, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CSL?
Reasonably. At 0.35, CSL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/csl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSL correlations · QQQ correlations
