ENPH vs QQQ: Correlation
Enphase Energy, Inc. (ENPH) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENPH and QQQ?
On 3 years of weekly data the ENPH/QQQ correlation comes out at 0.22, weak. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 305.2 %².
Among the 12 assets we track against ENPH, QQQ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 21.8 points (+4.5% versus +26.3%). Note the risk asymmetry: ENPH runs 3.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ENPH vs QQQ: side by side
| ENPH (Enphase Energy, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.5% | +26.3% |
| 5-year return | -77.9% | +95.4% |
| Volatility (ann.) | 70.2% | 19.6% |
| Beta vs S&P 500 | 1.12 | 1.28 |
| Max drawdown (3Y) | -81.0% | -22.8% |
| Market cap | $5.2B | – |
| P/E (trailing) | 38.1 | – |
| 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 | ENPH | QQQ |
|---|---|---|
| 2022 | +44.8% | -32.6% |
| 2023 | -50.1% | +54.9% |
| 2024 | -48.0% | +25.6% |
| 2025 | -53.3% | +20.8% |
| 2026 | +22.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENPH and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENPH and QQQ?
As of 2026-08-27, the correlation of weekly returns between ENPH and QQQ is 0.22 over 3 years, 0.21 over 1 year and 0.31 over 5 years.
Is QQQ a good diversifier for ENPH?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enph-vs-qqq.json
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[](https://www.pairbook.io/pair/enph-vs-qqq/)
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Related comparisons
Hubs: ENPH correlations · QQQ correlations
