ECF vs QQQ: Correlation
Measured on weekly returns over the past three years, Ellsworth Growth and Income Fund Ltd. (ECF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECF and QQQ?
Across a 3-year window, the weekly returns of ECF and QQQ correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 199.2 %².
Among the 19 assets we track against ECF, QQQ ranks #6 by 3-year correlation. Their 12-month results are close: +22.9% for ECF against +26.3% for QQQ.
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.
ECF vs QQQ: side by side
| ECF (Ellsworth Growth and Income Fund Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +22.9% | +26.3% |
| 5-year return | +25.8% | +95.4% |
| Volatility (ann.) | 16.5% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -16.8% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.9 | – |
| Dividend yield | 7.38% | 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 | ECF | QQQ |
|---|---|---|
| 2022 | -31.6% | -32.6% |
| 2023 | +8.0% | +54.9% |
| 2024 | +27.5% | +25.6% |
| 2025 | +30.0% | +20.8% |
| 2026 | +10.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECF and QQQ good diversifiers for each other?
Only partially. A correlation of 0.62 means ECF 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 ECF and QQQ?
The ECF/QQQ correlation stands at 0.62 on a 3-year window (1 year: 0.66, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ECF?
Only partially. A correlation of 0.62 means ECF 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 0.62 mean?
On the −1 to +1 scale, 0.62 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: ECF correlations · QQQ correlations
