EVI vs QQQ: Correlation
How closely do EVI Industries, Inc. (EVI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVI and QQQ?
Over the past 3 years, EVI and QQQ moved with a correlation of 0.26, which is weak. Recent behaviour matches the longer record: 0.20 over 1 year against 0.26 over 3. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 255.4 %².
Among the 12 assets we track against EVI, QQQ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 72.3 points (-46.0% versus +26.3%). Note the risk asymmetry: EVI runs 2.6 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.
EVI vs QQQ: side by side
| EVI (EVI Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -46.0% | +26.3% |
| 5-year return | -38.2% | +95.4% |
| Volatility (ann.) | 50.2% | 19.6% |
| Beta vs S&P 500 | 1.05 | 1.28 |
| Max drawdown (3Y) | -59.0% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 32.7 | – |
| 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 | EVI | QQQ |
|---|---|---|
| 2022 | -23.6% | -32.6% |
| 2023 | +0.5% | +54.9% |
| 2024 | -30.0% | +25.6% |
| 2025 | +52.2% | +20.8% |
| 2026 | -40.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EVI and QQQ?
The EVI/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.20, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EVI?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: EVI correlations · QQQ correlations
