NEE vs QQQ: Correlation
Measured on weekly returns over the past three years, NextEra Energy (NEE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEE and QQQ?
On 3 years of weekly data the NEE/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.21) than the 3-year average (0.04). The 5-year figure is 0.25, and annualized covariance runs at 19.7 %².
Within NEE's tracked universe of 29 assets, QQQ comes in at #19 by 3-year correlation. The trailing year gives QQQ the advantage: +16.2% versus +26.3%, a 10.1-point spread. This link changes with the market regime, having swung between -0.22 and 0.37 on a rolling one-year basis.
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.
NEE vs QQQ: side by side
| NEE (NextEra Energy) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.2% | +26.3% |
| 5-year return | +12.9% | +95.4% |
| Volatility (ann.) | 26.5% | 19.6% |
| Beta vs S&P 500 | 0.28 | 1.28 |
| Max drawdown (3Y) | -28.8% | -22.8% |
| Market cap | $174.1B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.82% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | NEE | QQQ |
|---|---|---|
| 2022 | -8.5% | -32.6% |
| 2023 | -25.3% | +54.9% |
| 2024 | +21.5% | +25.6% |
| 2025 | +15.5% | +20.8% |
| 2026 | +5.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEE and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
FAQ
What is the correlation between NEE and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with -0.21 over the last year and 0.25 over 5 years.
Is QQQ a good diversifier for NEE?
By historical standards, yes. A correlation of 0.04 means the two rarely move for the same reasons.
What does a correlation of 0.04 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/nee-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nee-vs-qqq/)
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Related comparisons
Hubs: NEE correlations · QQQ correlations
