ECAT vs QQQ: Correlation
Measured on weekly returns over the past three years, BlackRock ESG Capital Allocation Term Trust (ECAT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECAT and QQQ?
Over the past 3 years, ECAT and QQQ moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 212.1 %².
Among the 12 assets we track against ECAT, QQQ ranks #7 by 3-year correlation. On 12-month performance QQQ holds a 11.6-point edge, +14.7% against +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.
ECAT vs QQQ: side by side
| ECAT (BlackRock ESG Capital Allocation Term Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.7% | +26.3% |
| 5-year return | +56.8% | +95.4% |
| Volatility (ann.) | 15.2% | 19.6% |
| Beta vs S&P 500 | 0.79 | 1.28 |
| Max drawdown (3Y) | -15.8% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 7.2 | – |
| Dividend yield | 0.00% | 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 | ECAT | QQQ |
|---|---|---|
| 2022 | -21.9% | -32.6% |
| 2023 | +32.4% | +54.9% |
| 2024 | +20.0% | +25.6% |
| 2025 | +16.6% | +20.8% |
| 2026 | +15.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECAT and QQQ good diversifiers for each other?
Only partially. A correlation of 0.72 means ECAT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ECAT and QQQ?
The ECAT/QQQ correlation stands at 0.72 on a 3-year window (1 year: 0.69, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ECAT?
Only partially. A correlation of 0.72 means ECAT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ECAT correlations · QQQ correlations
