JCE vs QQQ: Correlation
Nuveen Core Equity Alpha Fund (JCE) and Invesco QQQ Trust (QQQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCE and QQQ?
Across a 3-year window, the weekly returns of JCE and QQQ correlate at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.86 over 1 year against 0.81 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 247.5 %².
Within JCE's tracked universe of 17 assets, QQQ comes in at #6 by 3-year correlation. On 12-month performance QQQ holds a 8.2-point edge, +18.1% against +26.3%.
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.
JCE vs QQQ: side by side
| JCE (Nuveen Core Equity Alpha Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +18.1% | +26.3% |
| 5-year return | +72.6% | +95.4% |
| Volatility (ann.) | 15.7% | 19.6% |
| Beta vs S&P 500 | 0.91 | 1.28 |
| Max drawdown (3Y) | -19.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 6.3 | – |
| 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 | JCE | QQQ |
|---|---|---|
| 2022 | -14.3% | -32.6% |
| 2023 | +10.7% | +54.9% |
| 2024 | +27.9% | +25.6% |
| 2025 | +9.1% | +20.8% |
| 2026 | +11.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCE and QQQ good diversifiers for each other?
No. With a correlation of 0.81, JCE and QQQ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between JCE and QQQ?
As of 2026-08-27, the correlation of weekly returns between JCE and QQQ is 0.81 over 3 years, 0.86 over 1 year and 0.57 over 5 years.
Is QQQ a good diversifier for JCE?
No. With a correlation of 0.81, JCE and QQQ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 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/jce-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jce-vs-qqq/)
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Related comparisons
Hubs: JCE correlations · QQQ correlations
