EU vs QQQ: Correlation
Measured on weekly returns over the past three years, enCore Energy Corp. (EU) and Invesco QQQ Trust (QQQ) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EU and QQQ?
Over the past 3 years, EU and QQQ moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 568.7 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against EU. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 65.3 percentage points (-39.0% for EU against +26.3% for QQQ). One caveat on sizing: EU is 3.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EU vs QQQ: side by side
| EU (enCore Energy Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -39.0% | +26.3% |
| 5-year return | -60.1% | +95.4% |
| Volatility (ann.) | 67.3% | 19.6% |
| Beta vs S&P 500 | 1.98 | 1.28 |
| Max drawdown (3Y) | -78.7% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | EU | QQQ |
|---|---|---|
| 2022 | -39.0% | -32.6% |
| 2023 | +66.5% | +54.9% |
| 2024 | -13.2% | +25.6% |
| 2025 | -27.3% | +20.8% |
| 2026 | -44.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EU and QQQ good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EU and QQQ?
As of 2026-08-27, the correlation of weekly returns between EU and QQQ is 0.43 over 3 years, 0.46 over 1 year and 0.40 over 5 years.
Is QQQ a good diversifier for EU?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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.
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Related comparisons
Hubs: EU correlations · QQQ correlations
