ELBM vs QQQ: Correlation
Electra Battery Materials Corporation (ELBM) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELBM and QQQ?
On 3 years of weekly data the ELBM/QQQ correlation comes out at 0.22, weak. Recent behaviour matches the longer record: 0.31 over 1 year against 0.22 over 3. The 5-year figure is 0.22, and annualized covariance runs at 396.9 %².
Among the 10 assets we track against ELBM, QQQ sits near the bottom by co-movement, at rank #6. Correlation aside, the last 12 months split them widely, with QQQ ahead by 57.3 points (-31.0% versus +26.3%). Risk is not evenly split, since ELBM carries 4.6 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.
ELBM vs QQQ: side by side
| ELBM (Electra Battery Materials Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -31.0% | +26.3% |
| 5-year return | -96.3% | +95.4% |
| Volatility (ann.) | 90.9% | 19.6% |
| Beta vs S&P 500 | 1.38 | 1.28 |
| Max drawdown (3Y) | -93.0% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | ELBM | QQQ |
|---|---|---|
| 2022 | -62.5% | -32.6% |
| 2023 | -78.0% | +54.9% |
| 2024 | +27.1% | +25.6% |
| 2025 | -56.9% | +20.8% |
| 2026 | -22.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELBM and QQQ good diversifiers for each other?
Reasonably. At 0.22, ELBM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ELBM and QQQ?
The ELBM/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.31, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ELBM?
Reasonably. At 0.22, ELBM and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
A reading of 0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: ELBM correlations · QQQ correlations
