ESP vs QQQ: Correlation
How closely do Espey Mfg. & Electronics Corp. (ESP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESP and QQQ?
Across a 3-year window, the weekly returns of ESP and QQQ correlate at 0.29, weak. Lately the two have drifted apart, with the 1-year correlation at 0.17 versus 0.29 over 3 years. Stretching to 5 years gives 0.24, with an annualized covariance of 243.0 %².
QQQ is close to the least connected end of ESP's tracked universe, ranking #7 of 10. The trailing year gives ESP the advantage: +39.7% versus +26.3%, a 13.4-point spread. Risk is not evenly split, since ESP carries 2.2 times the volatility of the other side.
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.
ESP vs QQQ: side by side
| ESP (Espey Mfg. & Electronics Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +39.7% | +26.3% |
| 5-year return | +393.3% | +95.4% |
| Volatility (ann.) | 42.3% | 19.6% |
| Beta vs S&P 500 | 0.97 | 1.28 |
| Max drawdown (3Y) | -29.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 2.78% | 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 | ESP | QQQ |
|---|---|---|
| 2022 | -0.1% | -32.6% |
| 2023 | +35.5% | +54.9% |
| 2024 | +66.8% | +25.6% |
| 2025 | +63.3% | +20.8% |
| 2026 | +35.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESP and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ESP and QQQ?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with 0.17 over the last year and 0.24 over 5 years.
Is QQQ a good diversifier for ESP?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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
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Related comparisons
Hubs: ESP correlations · QQQ correlations
