CZFS vs QQQ: Correlation
Citizens Financial Services, Inc. (CZFS) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZFS and QQQ?
Over the past 3 years, CZFS and QQQ moved with a correlation of 0.22, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.03 versus 0.22 over 3 years. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 187.5 %².
Out of 14 assets tracked against CZFS, QQQ lands near the bottom at #11. The trailing year gives CZFS the advantage: +34.8% versus +26.3%, a 8.5-point spread. One caveat on sizing: CZFS is 2.2 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.
CZFS vs QQQ: side by side
| CZFS (Citizens Financial Services, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +34.8% | +26.3% |
| 5-year return | +56.8% | +95.4% |
| Volatility (ann.) | 43.2% | 19.6% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -38.1% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 2.49% | 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 | CZFS | QQQ |
|---|---|---|
| 2022 | +31.2% | -32.6% |
| 2023 | -12.3% | +54.9% |
| 2024 | +2.7% | +25.6% |
| 2025 | -6.9% | +20.8% |
| 2026 | +44.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZFS and QQQ good diversifiers for each other?
Reasonably. At 0.22, CZFS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CZFS and QQQ?
The CZFS/QQQ correlation stands at 0.22 on a 3-year window (1 year: -0.03, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for CZFS?
Reasonably. At 0.22, CZFS 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.
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Related comparisons
Hubs: CZFS correlations · QQQ correlations
