EOG vs QQQ: Correlation
Measured on weekly returns over the past three years, EOG Resources (EOG) and Invesco QQQ Trust (QQQ) carry a correlation of -0.02, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOG and QQQ?
Over the past 3 years, EOG and QQQ moved with a correlation of -0.02, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.55 versus -0.02 over 3 years. Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is -12.0 %².
Among the 40 assets we track against EOG, QQQ ranks #30 by 3-year correlation. Their 12-month results are close: +21.7% for EOG against +26.3% for QQQ. This link changes with the market regime, having swung between -0.55 and 0.41 on a rolling one-year basis.
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.
EOG vs QQQ: side by side
| EOG (EOG Resources) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.7% | +26.3% |
| 5-year return | +171.5% | +95.4% |
| Volatility (ann.) | 28.1% | 19.6% |
| Beta vs S&P 500 | 0.14 | 1.28 |
| Max drawdown (3Y) | -23.7% | -22.8% |
| Market cap | $75.8B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.82% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Energy | 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 | EOG | QQQ |
|---|---|---|
| 2022 | +56.9% | -32.6% |
| 2023 | -2.0% | +54.9% |
| 2024 | +4.3% | +25.6% |
| 2025 | -11.4% | +20.8% |
| 2026 | +41.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOG and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between EOG and QQQ?
The EOG/QQQ correlation stands at -0.02 on a 3-year window (1 year: -0.55, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EOG?
By historical standards, yes. A correlation of -0.02 means the two rarely move for the same reasons.
What does a correlation of -0.02 mean?
On the −1 to +1 scale, -0.02 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: EOG correlations · QQQ correlations
