EVV vs QQQ: Correlation
How closely do Eaton Vance Limited Duration Income Fund (EVV) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and QQQ?
On 3 years of weekly data the EVV/QQQ correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 95.3 %².
By 3-year correlation, QQQ places #18 of the 23 assets tracked against EVV. The last year tells two different stories: QQQ led by 29.8 percentage points, -3.5% for EVV against +26.3% for QQQ. Note the risk asymmetry: QQQ runs 1.9 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.
EVV vs QQQ: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.5% | +26.3% |
| 5-year return | +11.4% | +95.4% |
| Volatility (ann.) | 10.2% | 19.6% |
| Beta vs S&P 500 | 0.41 | 1.28 |
| Max drawdown (3Y) | -9.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 9.65% | 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 | EVV | QQQ |
|---|---|---|
| 2022 | -19.9% | -32.6% |
| 2023 | +13.3% | +54.9% |
| 2024 | +12.2% | +25.6% |
| 2025 | +10.7% | +20.8% |
| 2026 | -2.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and QQQ good diversifiers for each other?
Reasonably. At 0.48, EVV and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVV and QQQ?
The EVV/QQQ correlation stands at 0.48 on a 3-year window (1 year: 0.43, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EVV?
Reasonably. At 0.48, EVV and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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
$ curl https://www.pairbook.io/api/v1/pairs/evv-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/evv-vs-qqq/)
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Related comparisons
Hubs: EVV correlations · QQQ correlations
