EFR vs QQQ: Correlation
Eaton Vance Senior Floating-Rate Fund (EFR) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFR and QQQ?
Over the past 3 years, EFR and QQQ moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 111.5 %².
By 3-year correlation, QQQ places #11 of the 16 assets tracked against EFR. The last year tells two different stories: QQQ led by 28.6 percentage points, -2.3% for EFR against +26.3% for QQQ. One caveat on sizing: QQQ is 1.8 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.
EFR vs QQQ: side by side
| EFR (Eaton Vance Senior Floating-Rate Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.3% | +26.3% |
| 5-year return | +16.8% | +95.4% |
| Volatility (ann.) | 10.7% | 19.6% |
| Beta vs S&P 500 | 0.45 | 1.28 |
| Max drawdown (3Y) | -18.3% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 9.21% | 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 | EFR | QQQ |
|---|---|---|
| 2022 | -18.8% | -32.6% |
| 2023 | +29.2% | +54.9% |
| 2024 | +11.3% | +25.6% |
| 2025 | -4.9% | +20.8% |
| 2026 | -0.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFR and QQQ good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EFR and QQQ?
As of 2026-08-27, the correlation of weekly returns between EFR and QQQ is 0.53 over 3 years, 0.49 over 1 year and 0.37 over 5 years.
Is QQQ a good diversifier for EFR?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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
$ curl https://www.pairbook.io/api/v1/pairs/efr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/efr-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFR correlations · QQQ correlations
