EIG vs QQQ: Correlation
Measured on weekly returns over the past three years, Employers Holdings Inc (EIG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIG and QQQ?
On 3 years of weekly data the EIG/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.21) runs below the 3-year figure (0.04). The 5-year figure is 0.10, and annualized covariance runs at 19.1 %².
QQQ is close to the least connected end of EIG's tracked universe, ranking #15 of 19. Over the last 12 months QQQ came out ahead by 9.6 percentage points (+16.7% against +26.3%).
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.
EIG vs QQQ: side by side
| EIG (Employers Holdings Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.7% | +26.3% |
| 5-year return | +43.2% | +95.4% |
| Volatility (ann.) | 22.8% | 19.6% |
| Beta vs S&P 500 | 0.32 | 1.28 |
| Max drawdown (3Y) | -31.3% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 62.1 | – |
| Dividend yield | 2.64% | 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 | EIG | QQQ |
|---|---|---|
| 2022 | +12.6% | -32.6% |
| 2023 | -6.1% | +54.9% |
| 2024 | +33.4% | +25.6% |
| 2025 | -13.3% | +20.8% |
| 2026 | +16.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIG and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between EIG and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with -0.21 over the last year and 0.10 over 5 years.
Is QQQ a good diversifier for EIG?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eig-vs-qqq/)
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Related comparisons
Hubs: EIG correlations · QQQ correlations
