ELE vs QQQ: Correlation
Elemental Royalty Corporation (ELE) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ELE and QQQ?
Across a 3-year window, the weekly returns of ELE and QQQ correlate at 0.28, weak. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.28). Stretching to 5 years gives 0.23, with an annualized covariance of 245.9 %².
QQQ is close to the least connected end of ELE's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months ELE outperformed by 26.4 percentage points (+52.7% for ELE against +26.3% for QQQ). One caveat on sizing: ELE is 2.3 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.
ELE vs QQQ: side by side
| ELE (Elemental Royalty Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +52.7% | +26.3% |
| 5-year return | +117.9% | +95.4% |
| Volatility (ann.) | 44.3% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -40.9% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.27% | 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 | ELE | QQQ |
|---|---|---|
| 2022 | -25.3% | -32.6% |
| 2023 | -15.4% | +54.9% |
| 2024 | -3.9% | +25.6% |
| 2025 | +114.0% | +20.8% |
| 2026 | +32.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ELE and QQQ good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ELE and QQQ?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.45 over the last year and 0.23 over 5 years.
Is QQQ a good diversifier for ELE?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
A reading of 0.28 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
$ curl https://www.pairbook.io/api/v1/pairs/ele-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ele-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ELE correlations · QQQ correlations
