NCV vs QQQ: Correlation
Virtus Convertible & Income Fund (NCV) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCV and QQQ?
Across a 3-year window, the weekly returns of NCV and QQQ correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 230.7 %².
Among the 16 assets we track against NCV, QQQ ranks #11 by 3-year correlation. Their 12-month results are close: +26.0% for NCV against +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.
NCV vs QQQ: side by side
| NCV (Virtus Convertible & Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.0% | +26.3% |
| 5-year return | +22.6% | +95.4% |
| Volatility (ann.) | 18.3% | 19.6% |
| Beta vs S&P 500 | 0.88 | 1.28 |
| Max drawdown (3Y) | -17.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 9.84% | 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 | NCV | QQQ |
|---|---|---|
| 2022 | -33.9% | -32.6% |
| 2023 | +12.7% | +54.9% |
| 2024 | +16.2% | +25.6% |
| 2025 | +22.6% | +20.8% |
| 2026 | +18.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCV and QQQ good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NCV and QQQ?
As of 2026-08-27, the correlation of weekly returns between NCV and QQQ is 0.64 over 3 years, 0.69 over 1 year and 0.67 over 5 years.
Is QQQ a good diversifier for NCV?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 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/ncv-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ncv-vs-qqq/)
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Related comparisons
Hubs: NCV correlations · QQQ correlations
