DVN vs QQQ: Correlation
How closely do Devon Energy (DVN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVN and QQQ?
Over the past 3 years, DVN and QQQ moved with a correlation of -0.03, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.03). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is -18.9 %².
By 3-year correlation, QQQ places #31 of the 42 assets tracked against DVN. On 12-month performance DVN holds a 9.6-point edge, +35.9% against +26.3%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.46 to 0.31. One caveat on sizing: DVN is 1.7 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.
DVN vs QQQ: side by side
| DVN (Devon Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +35.9% | +26.3% |
| 5-year return | +102.7% | +95.4% |
| Volatility (ann.) | 34.3% | 19.6% |
| Beta vs S&P 500 | 0.16 | 1.28 |
| Max drawdown (3Y) | -49.2% | -22.8% |
| Market cap | $51.8B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 2.22% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Energy | 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 | DVN | QQQ |
|---|---|---|
| 2022 | +50.9% | -32.6% |
| 2023 | -21.8% | +54.9% |
| 2024 | -25.2% | +25.6% |
| 2025 | +15.0% | +20.8% |
| 2026 | +30.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DVN and QQQ good diversifiers for each other?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DVN and QQQ?
As of 2026-08-27, the correlation of weekly returns between DVN and QQQ is -0.03 over 3 years, -0.46 over 1 year and 0.09 over 5 years.
Is QQQ a good diversifier for DVN?
Yes: at -0.03, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.03 mean?
A reading of -0.03 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/dvn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dvn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DVN correlations · QQQ correlations
