E vs QQQ: Correlation
How closely do ENI S.p.A. (E) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are E and QQQ?
Over the past 3 years, E and QQQ moved with a correlation of -0.07, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.07). Over 5 years the correlation is 0.12, and the annualized covariance of weekly returns is -28.9 %².
Among the 11 assets we track against E, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with E ahead by 27.0 points (+53.3% versus +26.3%).
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.
E vs QQQ: side by side
| E (ENI S.p.A.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +53.3% | +26.3% |
| 5-year return | +193.3% | +95.4% |
| Volatility (ann.) | 22.4% | 19.6% |
| Beta vs S&P 500 | 0.04 | 1.28 |
| Max drawdown (3Y) | -20.1% | -22.8% |
| Market cap | $76.7B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 0.99% | 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 | E | QQQ |
|---|---|---|
| 2022 | +10.9% | -32.6% |
| 2023 | +26.7% | +54.9% |
| 2024 | -14.0% | +25.6% |
| 2025 | +43.8% | +20.8% |
| 2026 | +43.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are E and QQQ good diversifiers for each other?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between E and QQQ?
Using weekly returns as of 2026-08-27: -0.07 over 3 years, with -0.37 over the last year and 0.12 over 5 years.
Is QQQ a good diversifier for E?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.07 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.
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Related comparisons
Hubs: E correlations · QQQ correlations
