EME vs QQQ: Correlation
Emcor (EME) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and QQQ?
Over the past 3 years, EME and QQQ moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 341.8 %².
Among the 34 assets we track against EME, QQQ ranks #22 by 3-year correlation. Neither side won the trailing year by much: +24.5% against +26.3%. The rolling one-year correlation moved between 0.25 and 0.69 over the past three years, a moderate range. One caveat on sizing: EME is 1.8 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.
EME vs QQQ: side by side
| EME (Emcor) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.5% | +26.3% |
| 5-year return | +540.3% | +95.4% |
| Volatility (ann.) | 34.9% | 19.6% |
| Beta vs S&P 500 | 1.31 | 1.28 |
| Max drawdown (3Y) | -36.2% | -22.8% |
| Market cap | $34.2B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.09% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | EME | QQQ |
|---|---|---|
| 2022 | +16.8% | -32.6% |
| 2023 | +46.0% | +54.9% |
| 2024 | +111.3% | +25.6% |
| 2025 | +35.1% | +20.8% |
| 2026 | +26.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and QQQ good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EME and QQQ?
As of 2026-08-27, the correlation of weekly returns between EME and QQQ is 0.50 over 3 years, 0.33 over 1 year and 0.50 over 5 years.
Is QQQ a good diversifier for EME?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: EME correlations · QQQ correlations
