CWK vs QQQ: Correlation
Cushman & Wakefield Ltd. (CWK) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWK and QQQ?
Across a 3-year window, the weekly returns of CWK and QQQ correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.39 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 362.0 %².
Within CWK's tracked universe of 26 assets, QQQ comes in at #21 by 3-year correlation. The last year tells two different stories: QQQ led by 37.7 percentage points, -11.4% for CWK against +26.3% for QQQ. One caveat on sizing: CWK is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CWK vs QQQ: side by side
| CWK (Cushman & Wakefield Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.4% | +26.3% |
| 5-year return | -22.4% | +95.4% |
| Volatility (ann.) | 47.1% | 19.6% |
| Beta vs S&P 500 | 1.67 | 1.28 |
| Max drawdown (3Y) | -49.0% | -22.8% |
| Market cap | $3.3B | – |
| P/E (trailing) | 50.5 | – |
| 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 | CWK | QQQ |
|---|---|---|
| 2022 | -44.0% | -32.6% |
| 2023 | -13.3% | +54.9% |
| 2024 | +21.1% | +25.6% |
| 2025 | +23.8% | +20.8% |
| 2026 | -12.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWK and QQQ good diversifiers for each other?
Reasonably. At 0.39, CWK and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CWK and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.25 over the last year and 0.44 over 5 years.
Is QQQ a good diversifier for CWK?
Reasonably. At 0.39, CWK and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/cwk-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cwk-vs-qqq/)
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Related comparisons
Hubs: CWK correlations · QQQ correlations
