CWT vs QQQ: Correlation
Measured on weekly returns over the past three years, California Water Service Group (CWT) and Invesco QQQ Trust (QQQ) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWT and QQQ?
Across a 3-year window, the weekly returns of CWT and QQQ correlate at -0.02, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.23 versus -0.02 over 3 years. Stretching to 5 years gives 0.17, with an annualized covariance of -8.3 %².
Out of 15 assets tracked against CWT, QQQ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with QQQ ahead by 17.0 points (+9.3% versus +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.
CWT vs QQQ: side by side
| CWT (California Water Service Group) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.3% | +26.3% |
| 5-year return | -12.2% | +95.4% |
| Volatility (ann.) | 22.3% | 19.6% |
| Beta vs S&P 500 | 0.10 | 1.28 |
| Max drawdown (3Y) | -24.1% | -22.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 2.53% | 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 | CWT | QQQ |
|---|---|---|
| 2022 | -14.1% | -32.6% |
| 2023 | -12.8% | +54.9% |
| 2024 | -10.6% | +25.6% |
| 2025 | -1.8% | +20.8% |
| 2026 | +18.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWT and QQQ good diversifiers for each other?
Yes. With a correlation of -0.02, CWT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CWT and QQQ?
As of 2026-08-27, the correlation of weekly returns between CWT and QQQ is -0.02 over 3 years, -0.23 over 1 year and 0.17 over 5 years.
Is QQQ a good diversifier for CWT?
Yes. With a correlation of -0.02, CWT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.02 mean?
On the −1 to +1 scale, -0.02 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: CWT correlations · QQQ correlations
