EWBC vs QQQ: Correlation
East West Bancorp, Inc. (EWBC) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWBC and QQQ?
On 3 years of weekly data the EWBC/QQQ correlation comes out at 0.33, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.33 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 197.8 %².
Out of 13 assets tracked against EWBC, QQQ lands near the bottom at #10. Neither side won the trailing year by much: +25.0% against +26.3%. Note the risk asymmetry: EWBC runs 1.5 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.
EWBC vs QQQ: side by side
| EWBC (East West Bancorp, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +25.0% | +26.3% |
| 5-year return | +103.5% | +95.4% |
| Volatility (ann.) | 30.2% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -35.8% | -22.8% |
| Market cap | $17.8B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 2.15% | 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 | EWBC | QQQ |
|---|---|---|
| 2022 | -14.4% | -32.6% |
| 2023 | +12.8% | +54.9% |
| 2024 | +36.8% | +25.6% |
| 2025 | +20.3% | +20.8% |
| 2026 | +17.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWBC and QQQ good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EWBC and QQQ?
The EWBC/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.18, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EWBC?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 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: EWBC correlations · QQQ correlations
