CWCO vs QQQ: Correlation
Measured on weekly returns over the past three years, Consolidated Water Co. Ltd. (CWCO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWCO and QQQ?
Over the past 3 years, CWCO and QQQ moved with a correlation of 0.26, which is weak. The relationship has been stable: the 1-year correlation (0.18) sits close to the 3-year figure. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 157.6 %².
Among the 12 assets we track against CWCO, QQQ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: QQQ led by 34.6 percentage points, -8.3% for CWCO against +26.3% for QQQ. Note the risk asymmetry: CWCO runs 1.6 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.
CWCO vs QQQ: side by side
| CWCO (Consolidated Water Co. Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -8.3% | +26.3% |
| 5-year return | +171.8% | +95.4% |
| Volatility (ann.) | 30.8% | 19.6% |
| Beta vs S&P 500 | 0.65 | 1.28 |
| Max drawdown (3Y) | -38.2% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 29.5 | – |
| Dividend yield | 1.86% | 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 | CWCO | QQQ |
|---|---|---|
| 2022 | +42.6% | -32.6% |
| 2023 | +144.2% | +54.9% |
| 2024 | -26.5% | +25.6% |
| 2025 | +38.7% | +20.8% |
| 2026 | -13.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWCO and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CWCO and QQQ?
As of 2026-08-27, the correlation of weekly returns between CWCO and QQQ is 0.26 over 3 years, 0.18 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for CWCO?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 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.
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Related comparisons
Hubs: CWCO correlations · QQQ correlations
