EGHT vs QQQ: Correlation
How closely do 8x8 Inc (EGHT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGHT and QQQ?
On 3 years of weekly data the EGHT/QQQ correlation comes out at 0.30, moderate. Recent behaviour matches the longer record: 0.24 over 1 year against 0.30 over 3. The 5-year figure is 0.38, and annualized covariance runs at 465.2 %².
Out of 15 assets tracked against EGHT, QQQ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with QQQ ahead by 21.1 points (+5.2% versus +26.3%). Risk is not evenly split, since EGHT carries 4.1 times the volatility of the other side.
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.
EGHT vs QQQ: side by side
| EGHT (8x8 Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.2% | +26.3% |
| 5-year return | -91.6% | +95.4% |
| Volatility (ann.) | 80.2% | 19.6% |
| Beta vs S&P 500 | 2.07 | 1.28 |
| Max drawdown (3Y) | -59.5% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 67.0 | – |
| 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 | EGHT | QQQ |
|---|---|---|
| 2022 | -74.2% | -32.6% |
| 2023 | -12.5% | +54.9% |
| 2024 | -29.4% | +25.6% |
| 2025 | -26.2% | +20.8% |
| 2026 | +2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and QQQ good diversifiers for each other?
Reasonably. At 0.30, EGHT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EGHT and QQQ?
Using weekly returns as of 2026-08-27: 0.30 over 3 years, with 0.24 over the last year and 0.38 over 5 years.
Is QQQ a good diversifier for EGHT?
Reasonably. At 0.30, EGHT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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: EGHT correlations · QQQ correlations
