NQ=F vs. ES

Last updated Jun 5, 2026

NQ=F (E-Mini Nasdaq 100 Futures) is an asset, while ES (Eversource Energy) is a stock. Over the past 10 years, NQ=F returned 20.98%/yr vs 5.90%/yr for ES. At a 0.24 correlation, their price movements are largely independent.

Performance

NQ=F vs. ES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in E-Mini Nasdaq 100 Futures (NQ=F) and Eversource Energy (ES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NQ=F achieves a 19.42% return, which is significantly higher than ES's 6.13% return. Over the past 10 years, NQ=F has outperformed ES with an annualized return of 20.98%, while ES has yielded a comparatively lower 5.90% annualized return.

NQ=F

• 1D: -0.76%
• 1M: 8.04%
• YTD: 19.42%
• 6M: 18.64%
• 1Y: 39.66%
• 3Y*: 27.73%
• 5Y*: 17.17%
• 10Y*: 20.98%

ES

• 1D: 2.49%
• 1M: 2.63%
• YTD: 6.13%
• 6M: 7.75%
• 1Y: 13.02%
• 3Y*: 4.38%
• 5Y*: 0.77%
• 10Y*: 5.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NQ=F vs. ES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NQ=F E-Mini Nasdaq 100 Futures	19.42%	19.93%	24.69%	54.45%	-32.46%	26.66%	47.22%	38.20%	-1.18%	31.76%
ES Eversource Energy	6.13%	22.86%	-2.46%	-23.43%	-5.06%	8.18%	4.45%	34.49%	6.41%	17.97%

Correlation

The correlation between NQ=F and ES is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 27, 2009	0.24

The correlation between NQ=F and ES shifts across timeframes, from 0.01 (3 years) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NQ=F vs. ES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NQ=F

NQ=F Risk / Return Rank: 92
NQ=F Sharpe Ratio Rank: 93
NQ=F Sortino Ratio Rank: 93
NQ=F Omega Ratio Rank: 93
NQ=F Calmar Ratio Rank: 93
NQ=F Martin Ratio Rank: 88

ES

ES Risk / Return Rank: 57
ES Sharpe Ratio Rank: 60
ES Sortino Ratio Rank: 50
ES Omega Ratio Rank: 53
ES Calmar Ratio Rank: 60
ES Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NQ=F vs. ES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for E-Mini Nasdaq 100 Futures (NQ=F) and Eversource Energy (ES). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NQ=F	ES	Difference
Sharpe ratio: Return per unit of total volatility	2.44	0.54	+1.90
Sortino ratio: Return per unit of downside risk	3.26	0.81	+2.45
Omega ratio: Gain probability vs. loss probability	1.43	1.12	+0.30
Calmar ratio: Return relative to maximum drawdown	3.20	0.86	+2.34
Martin ratio: Return relative to average drawdown	11.68	2.10	+9.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NQ=F vs. ES - Sharpe Ratio Comparison

The current NQ=F Sharpe Ratio is 2.44, which is higher than the ES Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of NQ=F and ES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NQ=F	ES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	0.54	+1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.03	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.24	+0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.28	+0.69

Drawdowns

NQ=F vs. ES - Drawdown Comparison

The maximum NQ=F drawdown since its inception was -35.28%, smaller than the maximum ES drawdown of -73.04%. Use the drawdown chart below to compare losses from any high point for NQ=F and ES.

Drawdown Indicators

	NQ=F	ES	Difference
Max Drawdown Largest peak-to-trough decline	-35.28%	-73.04%	+37.76%
Max Drawdown (1Y) Largest decline over 1 year	-11.89%	-15.13%	+3.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.05%	-28.65%	+5.60%
Max Drawdown (5Y) Largest decline over 5 years	-35.28%	-41.69%	+6.41%
Max Drawdown (10Y) Largest decline over 10 years	-35.28%	-41.69%	+6.41%
Current Drawdown Current decline from peak	-1.02%	-11.82%	+10.80%
Average Drawdown Average peak-to-trough decline	-5.11%	-19.07%	+13.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	6.20%	-2.89%

Volatility

NQ=F vs. ES - Volatility Comparison

The current volatility for E-Mini Nasdaq 100 Futures (NQ=F) is 4.05%, while Eversource Energy (ES) has a volatility of 7.21%. This indicates that NQ=F experiences smaller price fluctuations and is considered to be less risky than ES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NQ=F	ES	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	7.21%	-3.16%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	15.56%	-3.67%
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	24.34%	-8.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	23.89%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.28%	24.32%	-2.04%

Frequently Asked Questions

Can I hold both NQ=F and ES in my portfolio?

NQ=F and ES have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NQ=F or ES?

ES has higher volatility (7.21%) compared to NQ=F (4.05%). In terms of maximum drawdown, NQ=F dropped -35.28% vs ES's -73.04%.

Which has better risk-adjusted returns?

NQ=F currently has the higher Sharpe Ratio (2.44 vs 0.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.