CTAS vs QQQ: Correlation
How closely do Cintas (CTAS) 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 CTAS and QQQ?
Across a 3-year window, the weekly returns of CTAS and QQQ correlate at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.05 versus 0.31 over 3 years. Stretching to 5 years gives 0.53, with an annualized covariance of 138.8 %².
Within CTAS's tracked universe of 38 assets, QQQ comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 29.6 points (-3.3% versus +26.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.03 to 0.71.
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.
CTAS vs QQQ: side by side
| CTAS (Cintas) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.3% | +26.3% |
| 5-year return | +117.4% | +95.4% |
| Volatility (ann.) | 23.2% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -27.7% | -22.8% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | CTAS | QQQ |
|---|---|---|
| 2022 | +3.0% | -32.6% |
| 2023 | +34.8% | +54.9% |
| 2024 | +22.2% | +25.6% |
| 2025 | +3.8% | +20.8% |
| 2026 | +9.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CTAS represents 0.37% of QQQ's portfolio, so part of any move in QQQ is CTAS itself, and the correlation between them is partly mechanical.
Are CTAS and QQQ good diversifiers for each other?
Reasonably. At 0.31, CTAS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CTAS and QQQ?
The CTAS/QQQ correlation stands at 0.31 on a 3-year window (1 year: -0.05, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CTAS?
Reasonably. At 0.31, CTAS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctas-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctas-vs-qqq/)
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Related comparisons
Hubs: CTAS correlations · QQQ correlations
