CYD vs QQQ: Correlation
Measured on weekly returns over the past three years, China Yuchai International Limited (CYD) 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 CYD and QQQ?
Over the past 3 years, CYD and QQQ moved with a correlation of 0.22, which is weak. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 280.4 %².
Out of 11 assets tracked against CYD, QQQ lands near the bottom at #7. Neither side won the trailing year by much: +26.0% against +26.3%. Risk is not evenly split, since CYD carries 3.3 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.
CYD vs QQQ: side by side
| CYD (China Yuchai International Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.0% | +26.3% |
| 5-year return | +236.2% | +95.4% |
| Volatility (ann.) | 64.2% | 19.6% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -44.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 13.8 | – |
| 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 | CYD | QQQ |
|---|---|---|
| 2022 | -50.3% | -32.6% |
| 2023 | +21.6% | +54.9% |
| 2024 | +17.7% | +25.6% |
| 2025 | +281.2% | +20.8% |
| 2026 | +16.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CYD and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CYD and QQQ?
As of 2026-08-27, the correlation of weekly returns between CYD and QQQ is 0.22 over 3 years, 0.32 over 1 year and 0.25 over 5 years.
Is QQQ a good diversifier for CYD?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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
$ curl https://www.pairbook.io/api/v1/pairs/cyd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cyd-vs-qqq/)
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Related comparisons
Hubs: CYD correlations · QQQ correlations
