NVRI vs QQQ: Correlation
Enviri Corporation (NVRI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVRI and QQQ?
Over the past 3 years, NVRI and QQQ moved with a correlation of 0.25, which is weak. Lately the two have drifted apart, with the 1-year correlation at -0.11 versus 0.25 over 3 years. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 240.6 %².
Among the 11 assets we track against NVRI, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with NVRI ahead by 71.7 points (+98.0% versus +26.3%). Risk is not evenly split, since NVRI carries 2.5 times the volatility of the other side.
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.
NVRI vs QQQ: side by side
| NVRI (Enviri Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +98.0% | +26.3% |
| 5-year return | +22.4% | +95.4% |
| Volatility (ann.) | 49.8% | 19.6% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -60.7% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| 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 | NVRI | QQQ |
|---|---|---|
| 2022 | -62.4% | -32.6% |
| 2023 | +43.1% | +54.9% |
| 2024 | -14.4% | +25.6% |
| 2025 | +132.7% | +20.8% |
| 2026 | +25.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVRI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NVRI and QQQ?
The NVRI/QQQ correlation stands at 0.25 on a 3-year window (1 year: -0.11, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NVRI?
Yes, to a useful degree: a correlation of 0.25 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.25 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.
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Related comparisons
Hubs: NVRI correlations · QQQ correlations
