EXG vs QQQ: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and QQQ?
On 3 years of weekly data the EXG/QQQ correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.74 over 1 year against 0.80 over 3. The 5-year figure is 0.79, and annualized covariance runs at 236.3 %².
By 3-year correlation, QQQ places #15 of the 32 assets tracked against EXG. Twelve-month performance is nearly a tie, at +22.0% for EXG and +26.3% for QQQ.
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.
EXG vs QQQ: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +22.0% | +26.3% |
| 5-year return | +45.8% | +95.4% |
| Volatility (ann.) | 15.0% | 19.6% |
| Beta vs S&P 500 | 0.91 | 1.28 |
| Max drawdown (3Y) | -15.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 4.5 | – |
| 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 | EXG | QQQ |
|---|---|---|
| 2022 | -22.2% | -32.6% |
| 2023 | +11.4% | +54.9% |
| 2024 | +16.1% | +25.6% |
| 2025 | +27.8% | +20.8% |
| 2026 | +10.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and QQQ good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EXG and QQQ?
The EXG/QQQ correlation stands at 0.80 on a 3-year window (1 year: 0.74, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for EXG?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exg-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exg-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXG correlations · QQQ correlations
