QQQ vs ZEO: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Zeo Energy Corporation (ZEO) carry a correlation of 0.12, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ZEO?
Over the past 3 years, QQQ and ZEO moved with a correlation of 0.12, which is weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.12). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is 313.7 %².
Among the 4755 assets we track against QQQ, ZEO ranks #3709 by 3-year correlation. The last year tells two different stories: QQQ led by 108.0 percentage points, +26.3% for QQQ against -81.7% for ZEO. Note the risk asymmetry: ZEO runs 6.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ZEO: side by side
| QQQ (Invesco QQQ Trust) | ZEO (Zeo Energy Corporation) | |
|---|---|---|
| 1-year return | +26.3% | -81.7% |
| 5-year return | +95.4% | -96.8% |
| Volatility (ann.) | 19.6% | 130.0% |
| Beta vs S&P 500 | 1.28 | 1.10 |
| Max drawdown (3Y) | -22.8% | -97.4% |
| 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 |
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 | ZEO |
|---|---|---|
| 2022 | -32.6% | +4.2% |
| 2023 | +54.9% | +8.9% |
| 2024 | +25.6% | -69.5% |
| 2025 | +20.8% | -68.2% |
| 2026 | +17.7% | -70.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ZEO good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and ZEO?
The QQQ/ZEO correlation stands at 0.12 on a 3-year window (1 year: 0.40, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is ZEO a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 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: QQQ correlations · ZEO correlations
