QQQ vs UEC: Correlation
Invesco QQQ Trust (QQQ) and Uranium Energy Corp. (UEC) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UEC?
Across a 3-year window, the weekly returns of QQQ and UEC correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.33, with an annualized covariance of 492.3 %².
Within QQQ's tracked universe of 4755 assets, UEC comes in at #645 by 3-year correlation. On 12-month performance UEC holds a 5.0-point edge, +26.3% against +31.3%. One caveat on sizing: UEC is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
QQQ vs UEC: side by side
| QQQ (Invesco QQQ Trust) | UEC (Uranium Energy Corp.) | |
|---|---|---|
| 1-year return | +26.3% | +31.3% |
| 5-year return | +95.4% | +467.5% |
| Volatility (ann.) | 19.6% | 63.2% |
| Beta vs S&P 500 | 1.28 | 1.71 |
| Max drawdown (3Y) | -22.8% | -55.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | QQQ | UEC |
|---|---|---|
| 2022 | -32.6% | +15.8% |
| 2023 | +54.9% | +64.9% |
| 2024 | +25.6% | +4.5% |
| 2025 | +20.8% | +74.6% |
| 2026 | +17.7% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UEC good diversifiers for each other?
Reasonably. At 0.40, QQQ and UEC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and UEC?
The QQQ/UEC correlation stands at 0.40 on a 3-year window (1 year: 0.39, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is UEC a good diversifier for QQQ?
Reasonably. At 0.40, QQQ and UEC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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/qqq-vs-uec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-uec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · UEC correlations
