CZR vs QQQ: Correlation
Measured on weekly returns over the past three years, Caesars Entertainment, Inc. (CZR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZR and QQQ?
Over the past 3 years, CZR and QQQ moved with a correlation of 0.43, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.43 over 3 years. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 351.1 %².
QQQ is close to the least connected end of CZR's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 16.4 percentage points (+9.9% for CZR against +26.3% for QQQ). Note the risk asymmetry: CZR runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CZR vs QQQ: side by side
| CZR (Caesars Entertainment, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.9% | +26.3% |
| 5-year return | -71.0% | +95.4% |
| Volatility (ann.) | 41.8% | 19.6% |
| Beta vs S&P 500 | 1.43 | 1.28 |
| Max drawdown (3Y) | -67.5% | -22.8% |
| Market cap | $6.0B | – |
| P/E (trailing) | – | – |
| 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 | CZR | QQQ |
|---|---|---|
| 2022 | -55.5% | -32.6% |
| 2023 | +12.7% | +54.9% |
| 2024 | -28.7% | +25.6% |
| 2025 | -30.0% | +20.8% |
| 2026 | +26.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZR and QQQ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CZR and QQQ?
As of 2026-08-27, the correlation of weekly returns between CZR and QQQ is 0.43 over 3 years, 0.14 over 1 year and 0.55 over 5 years.
Is QQQ a good diversifier for CZR?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/czr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/czr-vs-qqq/)
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Related comparisons
Hubs: CZR correlations · QQQ correlations
