DMRC vs QQQX: Correlation
Measured on weekly returns over the past three years, Digimarc Corporation (DMRC) and Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMRC and QQQX?
On 3 years of weekly data the DMRC/QQQX correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 699.1 %².
QQQX is one of the assets that tracks DMRC most closely: it ranks #2 out of the 16 assets we track against DMRC. Their recent paths diverged sharply: over the last 12 months QQQX outperformed by 50.5 percentage points (-26.1% for DMRC against +24.4% for QQQX). One caveat on sizing: DMRC is 4.2 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.
DMRC vs QQQX: side by side
| DMRC (Digimarc Corporation) | QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | -26.1% | +24.4% |
| 5-year return | -77.7% | +51.0% |
| Volatility (ann.) | 76.3% | 18.1% |
| Beta vs S&P 500 | 2.38 | 1.09 |
| Max drawdown (3Y) | -90.8% | -22.8% |
| Market cap | $0.1B | $1.5B |
| P/E (trailing) | – | 8.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMRC | QQQX |
|---|---|---|
| 2022 | -53.2% | -27.4% |
| 2023 | +95.3% | +21.7% |
| 2024 | +3.7% | +25.6% |
| 2025 | -82.5% | +14.9% |
| 2026 | -4.9% | +13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMRC and QQQX good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DMRC and QQQX?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.57 over the last year and 0.42 over 5 years.
Is QQQX a good diversifier for DMRC?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dmrc-vs-qqqx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dmrc-vs-qqqx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMRC correlations · QQQX correlations
