CWST vs QQQ: Correlation
Casella Waste Systems, Inc. (CWST) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWST and QQQ?
On 3 years of weekly data the CWST/QQQ correlation comes out at 0.11, weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.11). The 5-year figure is 0.19, and annualized covariance runs at 59.5 %².
Out of 11 assets tracked against CWST, QQQ lands near the bottom at #8. The last year tells two different stories: QQQ led by 33.4 percentage points, -7.1% for CWST against +26.3% for QQQ.
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.
CWST vs QQQ: side by side
| CWST (Casella Waste Systems, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -7.1% | +26.3% |
| 5-year return | +25.0% | +95.4% |
| Volatility (ann.) | 26.7% | 19.6% |
| Beta vs S&P 500 | 0.40 | 1.28 |
| Max drawdown (3Y) | -37.7% | -22.8% |
| Market cap | $5.9B | – |
| P/E (trailing) | 1162.5 | – |
| 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 | CWST | QQQ |
|---|---|---|
| 2022 | -7.2% | -32.6% |
| 2023 | +7.8% | +54.9% |
| 2024 | +23.8% | +25.6% |
| 2025 | -7.4% | +20.8% |
| 2026 | -5.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWST and QQQ good diversifiers for each other?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CWST and QQQ?
As of 2026-08-27, the correlation of weekly returns between CWST and QQQ is 0.11 over 3 years, -0.07 over 1 year and 0.19 over 5 years.
Is QQQ a good diversifier for CWST?
Yes: at 0.11, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.11 mean?
A reading of 0.11 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/cwst-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cwst-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CWST correlations · QQQ correlations
