EW vs QQQ: Correlation
Measured on weekly returns over the past three years, Edwards Lifesciences (EW) and Invesco QQQ Trust (QQQ) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EW and QQQ?
Across a 3-year window, the weekly returns of EW and QQQ correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 226.1 %².
Among the 30 assets we track against EW, QQQ ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 15.1 points (+11.2% versus +26.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.12 to 0.64. Note the risk asymmetry: EW runs 1.6 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.
EW vs QQQ: side by side
| EW (Edwards Lifesciences) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.2% | +26.3% |
| 5-year return | -23.8% | +95.4% |
| Volatility (ann.) | 31.6% | 19.6% |
| Beta vs S&P 500 | 0.81 | 1.28 |
| Max drawdown (3Y) | -37.5% | -22.8% |
| Market cap | $51.8B | – |
| P/E (trailing) | 54.2 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | EW | QQQ |
|---|---|---|
| 2022 | -42.4% | -32.6% |
| 2023 | +2.2% | +54.9% |
| 2024 | -2.9% | +25.6% |
| 2025 | +15.2% | +20.8% |
| 2026 | +5.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EW and QQQ good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EW and QQQ?
As of 2026-08-27, the correlation of weekly returns between EW and QQQ is 0.37 over 3 years, 0.28 over 1 year and 0.50 over 5 years.
Is QQQ a good diversifier for EW?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EW correlations · QQQ correlations
