EHI vs QQQ: Correlation
Measured on weekly returns over the past three years, Western Asset Global High Income Fund Inc (EHI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHI and QQQ?
Over the past 3 years, EHI and QQQ moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 108.1 %².
Out of 15 assets tracked against EHI, QQQ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 26.9 percentage points (-0.6% for EHI against +26.3% for QQQ). One caveat on sizing: QQQ is 1.7 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.
EHI vs QQQ: side by side
| EHI (Western Asset Global High Income Fund Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.6% | +26.3% |
| 5-year return | -1.0% | +95.4% |
| Volatility (ann.) | 11.4% | 19.6% |
| Beta vs S&P 500 | 0.45 | 1.28 |
| Max drawdown (3Y) | -16.0% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 14.66% | 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 | EHI | QQQ |
|---|---|---|
| 2022 | -25.2% | -32.6% |
| 2023 | +19.2% | +54.9% |
| 2024 | +4.2% | +25.6% |
| 2025 | +9.1% | +20.8% |
| 2026 | -2.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHI and QQQ good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EHI and QQQ?
As of 2026-08-27, the correlation of weekly returns between EHI and QQQ is 0.48 over 3 years, 0.54 over 1 year and 0.49 over 5 years.
Is QQQ a good diversifier for EHI?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EHI correlations · QQQ correlations
