CXW vs QQQ: Correlation
Measured on weekly returns over the past three years, CoreCivic, Inc. (CXW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXW and QQQ?
Over the past 3 years, CXW and QQQ moved with a correlation of 0.22, which is weak. The relationship has been stable: the 1-year correlation (0.14) sits close to the 3-year figure. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 231.2 %².
Out of 12 assets tracked against CXW, QQQ lands near the bottom at #8. The last year tells two different stories: CXW led by 38.2 percentage points, +64.5% for CXW against +26.3% for QQQ. Risk is not evenly split, since CXW carries 2.7 times the volatility of the other side.
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.
CXW vs QQQ: side by side
| CXW (CoreCivic, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +64.5% | +26.3% |
| 5-year return | +251.2% | +95.4% |
| Volatility (ann.) | 53.5% | 19.6% |
| Beta vs S&P 500 | 0.94 | 1.28 |
| Max drawdown (3Y) | -32.6% | -22.8% |
| Market cap | $3.3B | – |
| P/E (trailing) | 27.0 | – |
| 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 | CXW | QQQ |
|---|---|---|
| 2022 | +15.9% | -32.6% |
| 2023 | +25.7% | +54.9% |
| 2024 | +49.6% | +25.6% |
| 2025 | -12.1% | +20.8% |
| 2026 | +76.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXW and QQQ good diversifiers for each other?
Reasonably. At 0.22, CXW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CXW and QQQ?
The CXW/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.14, 5 years: 0.18), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CXW?
Reasonably. At 0.22, CXW and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cxw-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cxw-vs-qqq/)
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Related comparisons
Hubs: CXW correlations · QQQ correlations
