DUK vs QQQM: Correlation
Measured on weekly returns over the past three years, Duke Energy (DUK) and Invesco Nasdaq 100 ETF (QQQM) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and QQQM?
Across a 3-year window, the weekly returns of DUK and QQQM correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives 0.05, with an annualized covariance of -64.5 %².
Among the 53 assets we track against DUK, QQQM ranks #35 by 3-year correlation. The last year tells two different stories: QQQM led by 25.3 percentage points, +1.1% for DUK against +26.4% for QQQM. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.32 to 0.24.
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.
DUK vs QQQM: side by side
| DUK (Duke Energy) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +1.1% | +26.4% |
| 5-year return | +39.8% | +96.1% |
| Volatility (ann.) | 15.9% | 19.5% |
| Beta vs S&P 500 | -0.09 | 1.28 |
| Max drawdown (3Y) | -11.6% | -22.7% |
| Market cap | $94.2B | – |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 3.49% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Utilities | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | DUK | QQQM |
|---|---|---|
| 2022 | +2.0% | -32.5% |
| 2023 | -1.6% | +55.0% |
| 2024 | +15.6% | +25.7% |
| 2025 | +12.7% | +20.9% |
| 2026 | +5.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and QQQM good diversifiers for each other?
Yes. With a correlation of -0.21, DUK and QQQM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DUK and QQQM?
The DUK/QQQM correlation stands at -0.21 on a 3-year window (1 year: -0.28, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is QQQM a good diversifier for DUK?
Yes. With a correlation of -0.21, DUK and QQQM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/duk-vs-qqqm.json
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Related comparisons
Hubs: DUK correlations · QQQM correlations
