EOS vs QQQ: Correlation
Measured on weekly returns over the past three years, Eaton Vance Enhance Equity Income Fund II (EOS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.88, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOS and QQQ?
Across a 3-year window, the weekly returns of EOS and QQQ correlate at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.84) sits close to the 3-year figure. Stretching to 5 years gives 0.88, with an annualized covariance of 329.1 %².
By 3-year correlation, QQQ places #5 of the 34 assets tracked against EOS. The last year tells two different stories: QQQ led by 28.2 percentage points, -1.9% for EOS 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.
EOS vs QQQ: side by side
| EOS (Eaton Vance Enhance Equity Income Fund II) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.9% | +26.3% |
| 5-year return | +30.9% | +95.4% |
| Volatility (ann.) | 19.2% | 19.6% |
| Beta vs S&P 500 | 1.17 | 1.28 |
| Max drawdown (3Y) | -24.3% | -22.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 7.2 | – |
| Dividend yield | 8.51% | 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 | EOS | QQQ |
|---|---|---|
| 2022 | -26.5% | -32.6% |
| 2023 | +22.6% | +54.9% |
| 2024 | +38.7% | +25.6% |
| 2025 | +5.8% | +20.8% |
| 2026 | -2.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOS and QQQ good diversifiers for each other?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EOS and QQQ?
The EOS/QQQ correlation stands at 0.88 on a 3-year window (1 year: 0.84, 5 years: 0.88), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EOS?
Not really. At 0.88, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eos-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eos-vs-qqq/)
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Related comparisons
Hubs: EOS correlations · QQQ correlations
