ES vs QQQ: Correlation
Measured on weekly returns over the past three years, Eversource Energy (ES) and Invesco QQQ Trust (QQQ) carry a correlation of 0.00, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and QQQ?
Over the past 3 years, ES and QQQ moved with a correlation of 0.00, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is 0.1 %².
Among the 28 assets we track against ES, QQQ ranks #18 by 3-year correlation. On 12-month performance QQQ holds a 11.8-point edge, +14.5% against +26.3%. This link changes with the market regime, having swung between -0.33 and 0.32 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.
ES vs QQQ: side by side
| ES (Eversource Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.5% | +26.3% |
| 5-year return | -5.0% | +95.4% |
| Volatility (ann.) | 22.9% | 19.6% |
| Beta vs S&P 500 | 0.20 | 1.28 |
| Max drawdown (3Y) | -18.8% | -22.8% |
| Market cap | $26.7B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 4.30% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | ES | QQQ |
|---|---|---|
| 2022 | -5.1% | -32.6% |
| 2023 | -23.4% | +54.9% |
| 2024 | -2.5% | +25.6% |
| 2025 | +22.9% | +20.8% |
| 2026 | +7.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
FAQ
What is the correlation between ES and QQQ?
As of 2026-08-27, the correlation of weekly returns between ES and QQQ is 0.00 over 3 years, 0.03 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for ES?
By historical standards, yes. A correlation of 0.00 means the two rarely move for the same reasons.
What does a correlation of 0.00 mean?
A reading of 0.00 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: ES correlations · QQQ correlations
