QQQ vs UTG: Correlation
How closely do Invesco QQQ Trust (QQQ) and Reaves Utility Income Fund (UTG) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UTG?
On 3 years of weekly data the QQQ/UTG correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.42 over 3. The 5-year figure is 0.48, and annualized covariance runs at 155.6 %².
By 3-year correlation, UTG places #535 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 19.5 percentage points, +26.3% for QQQ against +6.8% for UTG.
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 UTG: side by side
| QQQ (Invesco QQQ Trust) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | +26.3% | +6.8% |
| 5-year return | +95.4% | +53.5% |
| Volatility (ann.) | 19.6% | 19.1% |
| Beta vs S&P 500 | 1.28 | 0.67 |
| Max drawdown (3Y) | -22.8% | -14.9% |
| Market cap | – | $3.5B |
| P/E (trailing) | – | 2.8 |
| Dividend yield | 0.44% | 6.17% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | UTG |
|---|---|---|
| 2022 | -32.6% | -13.4% |
| 2023 | +54.9% | +2.8% |
| 2024 | +25.6% | +28.1% |
| 2025 | +20.8% | +23.2% |
| 2026 | +17.7% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UTG good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and UTG?
The QQQ/UTG correlation stands at 0.42 on a 3-year window (1 year: 0.37, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is UTG a good diversifier for QQQ?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/qqq-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · UTG correlations
