ESS vs QQQ: Correlation
Essex Property Trust (ESS) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESS and QQQ?
Over the past 3 years, ESS and QQQ moved with a correlation of 0.27, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.12 versus 0.27 over 3 years. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 117.8 %².
Among the 31 assets we track against ESS, QQQ ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 17.2 points (+9.1% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.13 and 0.47 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ESS vs QQQ: side by side
| ESS (Essex Property Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.1% | +26.3% |
| 5-year return | +3.0% | +95.4% |
| Volatility (ann.) | 22.2% | 19.6% |
| Beta vs S&P 500 | 0.64 | 1.28 |
| Max drawdown (3Y) | -20.8% | -22.8% |
| Market cap | $19.4B | – |
| P/E (trailing) | 44.8 | – |
| Dividend yield | 3.58% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Real Estate | 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 | ESS | QQQ |
|---|---|---|
| 2022 | -37.8% | -32.6% |
| 2023 | +22.0% | +54.9% |
| 2024 | +18.4% | +25.6% |
| 2025 | -5.0% | +20.8% |
| 2026 | +10.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESS and QQQ good diversifiers for each other?
Reasonably. At 0.27, ESS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ESS and QQQ?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with -0.12 over the last year and 0.38 over 5 years.
Is QQQ a good diversifier for ESS?
Reasonably. At 0.27, ESS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 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: ESS correlations · QQQ correlations
