EMD vs QQQ: Correlation
Western Asset Emerging Markets Debt Fund Inc (EMD) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMD and QQQ?
On 3 years of weekly data the EMD/QQQ correlation comes out at 0.44, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.44 over 3. The 5-year figure is 0.43, and annualized covariance runs at 121.3 %².
Out of 15 assets tracked against EMD, QQQ lands near the bottom at #12. On 12-month performance QQQ holds a 11.3-point edge, +15.0% 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.
EMD vs QQQ: side by side
| EMD (Western Asset Emerging Markets Debt Fund Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.0% | +26.3% |
| 5-year return | +28.3% | +95.4% |
| Volatility (ann.) | 14.1% | 19.6% |
| Beta vs S&P 500 | 0.51 | 1.28 |
| Max drawdown (3Y) | -13.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 6.7 | – |
| 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 | EMD | QQQ |
|---|---|---|
| 2022 | -20.8% | -32.6% |
| 2023 | +12.3% | +54.9% |
| 2024 | +16.3% | +25.6% |
| 2025 | +23.4% | +20.8% |
| 2026 | +6.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMD and QQQ good diversifiers for each other?
Reasonably. At 0.44, EMD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EMD and QQQ?
As of 2026-08-27, the correlation of weekly returns between EMD and QQQ is 0.44 over 3 years, 0.50 over 1 year and 0.43 over 5 years.
Is QQQ a good diversifier for EMD?
Reasonably. At 0.44, EMD and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/emd-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emd-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMD correlations · QQQ correlations
