EMN vs QQQ: Correlation
Measured on weekly returns over the past three years, Eastman Chemical Company (EMN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and QQQ?
Across a 3-year window, the weekly returns of EMN and QQQ correlate at 0.32, moderate. The link has loosened recently: the 1-year correlation (0.10) runs below the 3-year figure (0.32). Stretching to 5 years gives 0.47, with an annualized covariance of 193.0 %².
Among the 22 assets we track against EMN, QQQ sits near the bottom by co-movement, at rank #19. Correlation aside, the last 12 months split them widely, with QQQ ahead by 15.5 points (+10.8% versus +26.3%). Risk is not evenly split, since EMN carries 1.6 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.
EMN vs QQQ: side by side
| EMN (Eastman Chemical Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.8% | +26.3% |
| 5-year return | -22.9% | +95.4% |
| Volatility (ann.) | 30.5% | 19.6% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -48.4% | -22.8% |
| Market cap | $8.3B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 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 | EMN | QQQ |
|---|---|---|
| 2022 | -30.4% | -32.6% |
| 2023 | +14.7% | +54.9% |
| 2024 | +5.1% | +25.6% |
| 2025 | -26.9% | +20.8% |
| 2026 | +16.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EMN and QQQ?
The EMN/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.10, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EMN?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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.
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Related comparisons
Hubs: EMN correlations · QQQ correlations
