EDRY vs QQQ: Correlation
How closely do EuroDry Ltd. (EDRY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.15, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDRY and QQQ?
Across a 3-year window, the weekly returns of EDRY and QQQ correlate at 0.15, weak. Little has changed lately, as the 1-year reading of 0.21 lands near the 3-year figure. Stretching to 5 years gives 0.08, with an annualized covariance of 146.3 %².
Among the 11 assets we track against EDRY, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months EDRY outperformed by 338.4 percentage points (+364.7% for EDRY against +26.3% for QQQ). Note the risk asymmetry: EDRY runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EDRY vs QQQ: side by side
| EDRY (EuroDry Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +364.7% | +26.3% |
| 5-year return | +66.1% | +95.4% |
| Volatility (ann.) | 50.8% | 19.6% |
| Beta vs S&P 500 | 0.68 | 1.28 |
| Max drawdown (3Y) | -67.8% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 14.6 | – |
| 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 | EDRY | QQQ |
|---|---|---|
| 2022 | -9.7% | -32.6% |
| 2023 | +10.9% | +54.9% |
| 2024 | -41.2% | +25.6% |
| 2025 | +14.6% | +20.8% |
| 2026 | +284.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDRY and QQQ good diversifiers for each other?
Yes. With a correlation of 0.15, EDRY and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EDRY and QQQ?
The EDRY/QQQ correlation stands at 0.15 on a 3-year window (1 year: 0.21, 5 years: 0.08), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EDRY?
Yes. With a correlation of 0.15, EDRY and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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.
Use this data
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Related comparisons
Hubs: EDRY correlations · QQQ correlations
