CEE vs QQQ: Correlation
Measured on weekly returns over the past three years, The Central and Eastern Europe Fund, Inc. (The) (CEE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEE and QQQ?
Across a 3-year window, the weekly returns of CEE and QQQ correlate at 0.46, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 274.0 %².
Among the 12 assets we track against CEE, QQQ sits near the bottom by co-movement, at rank #8. The trailing year gives QQQ the advantage: +20.8% versus +26.3%, a 5.5-point spread. Note the risk asymmetry: CEE runs 1.6 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.
CEE vs QQQ: side by side
| CEE (The Central and Eastern Europe Fund, Inc. (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.8% | +26.3% |
| 5-year return | -16.3% | +95.4% |
| Volatility (ann.) | 30.5% | 19.6% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -22.2% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 3.0 | – |
| Dividend yield | 1.92% | 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 | CEE | QQQ |
|---|---|---|
| 2022 | -67.8% | -32.6% |
| 2023 | +22.6% | +54.9% |
| 2024 | +15.5% | +25.6% |
| 2025 | +65.6% | +20.8% |
| 2026 | +12.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CEE and QQQ?
As of 2026-08-27, the correlation of weekly returns between CEE and QQQ is 0.46 over 3 years, 0.45 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for CEE?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CEE correlations · QQQ correlations
