CSWC vs QQQ: Correlation
Capital Southwest Corporation (CSWC) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSWC and QQQ?
On 3 years of weekly data the CSWC/QQQ correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 142.6 %².
By 3-year correlation, QQQ places #12 of the 17 assets tracked against CSWC. Neither side won the trailing year by much: +25.5% against +26.3%.
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.
CSWC vs QQQ: side by side
| CSWC (Capital Southwest Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +25.5% | +26.3% |
| 5-year return | +72.3% | +95.4% |
| Volatility (ann.) | 20.0% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -27.7% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 9.20% | 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 | CSWC | QQQ |
|---|---|---|
| 2022 | -24.4% | -32.6% |
| 2023 | +56.1% | +54.9% |
| 2024 | +2.1% | +25.6% |
| 2025 | +14.3% | +20.8% |
| 2026 | +23.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSWC and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSWC and QQQ?
The CSWC/QQQ correlation stands at 0.36 on a 3-year window (1 year: 0.36, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CSWC?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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
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[](https://www.pairbook.io/pair/cswc-vs-qqq/)
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Related comparisons
Hubs: CSWC correlations · QQQ correlations
