NIE vs QQQ: Correlation
Measured on weekly returns over the past three years, Virtus Equity & Convertible Income Fund (NIE) and Invesco QQQ Trust (QQQ) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NIE and QQQ?
Over the past 3 years, NIE and QQQ moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Over 5 years the correlation is 0.88, and the annualized covariance of weekly returns is 250.2 %².
By 3-year correlation, QQQ places #6 of the 21 assets tracked against NIE. The trailing year gives QQQ the advantage: +16.8% versus +26.3%, a 9.5-point spread.
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.
NIE vs QQQ: side by side
| NIE (Virtus Equity & Convertible Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.8% | +26.3% |
| 5-year return | +55.1% | +95.4% |
| Volatility (ann.) | 14.9% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -20.8% | -22.8% |
| Market cap | $0.7B | – |
| 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 | NIE | QQQ |
|---|---|---|
| 2022 | -26.7% | -32.6% |
| 2023 | +26.7% | +54.9% |
| 2024 | +28.6% | +25.6% |
| 2025 | +12.2% | +20.8% |
| 2026 | +9.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NIE and QQQ good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between NIE and QQQ?
As of 2026-08-27, the correlation of weekly returns between NIE and QQQ is 0.86 over 3 years, 0.80 over 1 year and 0.88 over 5 years.
Is QQQ a good diversifier for NIE?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
A reading of 0.86 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/nie-vs-qqq.json
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[](https://www.pairbook.io/pair/nie-vs-qqq/)
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Related comparisons
Hubs: NIE correlations · QQQ correlations
