QQQ vs UUUU: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Energy Fuels Inc (UUUU) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UUUU?
On 3 years of weekly data the QQQ/UUUU correlation comes out at 0.31, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.47 versus 0.31 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 426.5 %².
Within QQQ's tracked universe of 4755 assets, UUUU comes in at #1447 by 3-year correlation. The trailing year gives UUUU the advantage: +26.3% versus +38.1%, a 11.8-point spread. Risk is not evenly split, since UUUU carries 3.6 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.
QQQ vs UUUU: side by side
| QQQ (Invesco QQQ Trust) | UUUU (Energy Fuels Inc) | |
|---|---|---|
| 1-year return | +26.3% | +38.1% |
| 5-year return | +95.4% | +207.4% |
| Volatility (ann.) | 19.6% | 70.3% |
| Beta vs S&P 500 | 1.28 | 1.46 |
| Max drawdown (3Y) | -22.8% | -61.5% |
| Market cap | – | $3.9B |
| 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 |
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 | UUUU |
|---|---|---|
| 2022 | -32.6% | -18.6% |
| 2023 | +54.9% | +15.8% |
| 2024 | +25.6% | -28.7% |
| 2025 | +20.8% | +183.4% |
| 2026 | +17.7% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UUUU good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and UUUU?
The QQQ/UUUU correlation stands at 0.31 on a 3-year window (1 year: 0.47, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is UUUU a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 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-uuuu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-uuuu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · UUUU correlations
