ANET vs QQQX: Correlation
Measured on weekly returns over the past three years, Arista Networks (ANET) and Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and QQQX?
Over the past 3 years, ANET and QQQX moved with a correlation of 0.64, which is strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.64). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 568.8 %².
Among the 35 assets we track against ANET, QQQX ranks #13 by 3-year correlation. The last year tells two different stories: ANET led by 26.5 percentage points, +50.9% for ANET against +24.4% for QQQX. One caveat on sizing: ANET is 2.7 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.
ANET vs QQQX: side by side
| ANET (Arista Networks) | QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +50.9% | +24.4% |
| 5-year return | +764.7% | +51.0% |
| Volatility (ann.) | 49.3% | 18.1% |
| Beta vs S&P 500 | 2.20 | 1.09 |
| Max drawdown (3Y) | -50.4% | -22.8% |
| Market cap | $253.6B | $1.5B |
| P/E (trailing) | 64.0 | 8.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ANET | QQQX |
|---|---|---|
| 2022 | -15.6% | -27.4% |
| 2023 | +94.1% | +21.7% |
| 2024 | +87.7% | +25.6% |
| 2025 | +18.5% | +14.9% |
| 2026 | +53.5% | +13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and QQQX good diversifiers for each other?
Only partially. A correlation of 0.64 means ANET and QQQX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ANET and QQQX?
The ANET/QQQX correlation stands at 0.64 on a 3-year window (1 year: 0.48, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is QQQX a good diversifier for ANET?
Only partially. A correlation of 0.64 means ANET and QQQX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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.
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Hubs: ANET correlations · QQQX correlations
