EGO vs QQQ: Correlation
Measured on weekly returns over the past three years, Eldorado Gold Corporation (EGO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGO and QQQ?
On 3 years of weekly data the EGO/QQQ correlation comes out at 0.20, weak. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 198.7 %².
Among the 12 assets we track against EGO, QQQ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months EGO outperformed by 72.3 percentage points (+98.6% for EGO against +26.3% for QQQ). Risk is not evenly split, since EGO carries 2.6 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.
EGO vs QQQ: side by side
| EGO (Eldorado Gold Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +98.6% | +26.3% |
| 5-year return | +463.3% | +95.4% |
| Volatility (ann.) | 50.3% | 19.6% |
| Beta vs S&P 500 | 0.73 | 1.28 |
| Max drawdown (3Y) | -44.0% | -22.8% |
| Market cap | $12.5B | – |
| P/E (trailing) | 16.7 | – |
| Dividend yield | 0.32% | 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 | EGO | QQQ |
|---|---|---|
| 2022 | -10.6% | -32.6% |
| 2023 | +55.1% | +54.9% |
| 2024 | +14.6% | +25.6% |
| 2025 | +141.6% | +20.8% |
| 2026 | +34.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGO and QQQ good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EGO and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.29 over the last year and 0.25 over 5 years.
Is QQQ a good diversifier for EGO?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: EGO correlations · QQQ correlations
