EOI vs QQQ: Correlation
How closely do Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOI and QQQ?
Over the past 3 years, EOI and QQQ moved with a correlation of 0.77, which is strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 257.1 %².
Within EOI's tracked universe of 19 assets, QQQ comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 24.1 percentage points (+2.2% for EOI against +26.3% for QQQ).
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.
EOI vs QQQ: side by side
| EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.2% | +26.3% |
| 5-year return | +55.4% | +95.4% |
| Volatility (ann.) | 17.0% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -23.2% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 8.03% | 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 | EOI | QQQ |
|---|---|---|
| 2022 | -19.7% | -32.6% |
| 2023 | +20.7% | +54.9% |
| 2024 | +35.8% | +25.6% |
| 2025 | +7.2% | +20.8% |
| 2026 | +3.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOI and QQQ good diversifiers for each other?
To a limited degree. At 0.77 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 EOI and QQQ?
The EOI/QQQ correlation stands at 0.77 on a 3-year window (1 year: 0.71, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EOI?
To a limited degree. At 0.77 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 0.77 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/eoi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eoi-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EOI correlations · QQQ correlations
