ENS vs QQQ: Correlation
How closely do EnerSys (ENS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENS and QQQ?
Over the past 3 years, ENS and QQQ moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 278.4 %².
QQQ is close to the least connected end of ENS's tracked universe, ranking #7 of 11. Correlation aside, the last 12 months split them widely, with ENS ahead by 61.6 points (+87.9% versus +26.3%). One caveat on sizing: ENS is 1.5 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.
ENS vs QQQ: side by side
| ENS (EnerSys) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +87.9% | +26.3% |
| 5-year return | +131.9% | +95.4% |
| Volatility (ann.) | 30.1% | 19.6% |
| Beta vs S&P 500 | 1.09 | 1.28 |
| Max drawdown (3Y) | -28.2% | -22.8% |
| Market cap | $6.9B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.54% | 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 | ENS | QQQ |
|---|---|---|
| 2022 | -5.6% | -32.6% |
| 2023 | +37.9% | +54.9% |
| 2024 | -7.6% | +25.6% |
| 2025 | +60.3% | +20.8% |
| 2026 | +30.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENS and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ENS and QQQ?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.44 over the last year and 0.57 over 5 years.
Is QQQ a good diversifier for ENS?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ENS correlations · QQQ correlations
