IBEX vs QQQ: Correlation
Measured on weekly returns over the past three years, IBEX Limited - Common Share (IBEX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBEX and QQQ?
Over the past 3 years, IBEX and QQQ moved with a correlation of 0.32, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 284.3 %².
Out of 12 assets tracked against IBEX, QQQ lands near the bottom at #8. Their 12-month results are close: +26.7% for IBEX against +26.3% for QQQ. Note the risk asymmetry: IBEX runs 2.3 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.
IBEX vs QQQ: side by side
| IBEX (IBEX Limited - Common Share) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +26.7% | +26.3% |
| 5-year return | +104.6% | +95.4% |
| Volatility (ann.) | 45.5% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -37.1% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
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 | IBEX | QQQ |
|---|---|---|
| 2022 | +92.8% | -32.6% |
| 2023 | -23.5% | +54.9% |
| 2024 | +13.0% | +25.6% |
| 2025 | +77.7% | +20.8% |
| 2026 | -2.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBEX and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IBEX and QQQ?
The IBEX/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.35, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IBEX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IBEX correlations · QQQ correlations
