EMF vs QQQ: Correlation
Measured on weekly returns over the past three years, Templeton Emerging Markets Fund (EMF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMF and QQQ?
Over the past 3 years, EMF and QQQ moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 268.1 %².
Within EMF's tracked universe of 21 assets, QQQ comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EMF ahead by 35.3 points (+61.6% versus +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.
EMF vs QQQ: side by side
| EMF (Templeton Emerging Markets Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +61.6% | +26.3% |
| 5-year return | +91.4% | +95.4% |
| Volatility (ann.) | 21.0% | 19.6% |
| Beta vs S&P 500 | 0.93 | 1.28 |
| Max drawdown (3Y) | -19.5% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 2.4 | – |
| Dividend yield | 3.91% | 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 | EMF | QQQ |
|---|---|---|
| 2022 | -21.5% | -32.6% |
| 2023 | +8.8% | +54.9% |
| 2024 | +6.6% | +25.6% |
| 2025 | +58.2% | +20.8% |
| 2026 | +36.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMF and QQQ good diversifiers for each other?
To a limited degree. At 0.65 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 EMF and QQQ?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.75 over the last year and 0.61 over 5 years.
Is QQQ a good diversifier for EMF?
To a limited degree. At 0.65 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 0.65 mean?
On the −1 to +1 scale, 0.65 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
$ curl https://www.pairbook.io/api/v1/pairs/emf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emf-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMF correlations · QQQ correlations
