EVEX vs QQQ: Correlation
Measured on weekly returns over the past three years, Eve Holding, Inc. (EVEX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVEX and QQQ?
Across a 3-year window, the weekly returns of EVEX and QQQ correlate at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.41). Stretching to 5 years gives 0.27, with an annualized covariance of 491.7 %².
Within EVEX's tracked universe of 15 assets, QQQ comes in at #7 by 3-year correlation. The last year tells two different stories: QQQ led by 67.1 percentage points, -40.8% for EVEX against +26.3% for QQQ. Note the risk asymmetry: EVEX runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EVEX vs QQQ: side by side
| EVEX (Eve Holding, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -40.8% | +26.3% |
| 5-year return | -72.4% | +95.4% |
| Volatility (ann.) | 60.7% | 19.6% |
| Beta vs S&P 500 | 1.73 | 1.28 |
| Max drawdown (3Y) | -75.8% | -22.8% |
| Market cap | $0.8B | – |
| 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 | EVEX | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +1.7% | +54.9% |
| 2024 | -25.7% | +25.6% |
| 2025 | -26.7% | +20.8% |
| 2026 | -40.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVEX and QQQ good diversifiers for each other?
Reasonably. At 0.41, EVEX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVEX and QQQ?
As of 2026-08-27, the correlation of weekly returns between EVEX and QQQ is 0.41 over 3 years, 0.62 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for EVEX?
Reasonably. At 0.41, EVEX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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: EVEX correlations · QQQ correlations
