ICCM vs QQQ: Correlation
How closely do IceCure Medical Ltd. (ICCM) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCM and QQQ?
On 3 years of weekly data the ICCM/QQQ correlation comes out at 0.08, near zero, meaning they move largely independently. The link has tightened recently: the 1-year correlation (0.19) runs above the 3-year figure (0.08). The 5-year figure is 0.12, and annualized covariance runs at 175.0 %².
Among the 41 assets we track against ICCM, QQQ ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 118.6 percentage points (-92.3% for ICCM against +26.3% for QQQ). Risk is not evenly split, since ICCM carries 6.0 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.
ICCM vs QQQ: side by side
| ICCM (IceCure Medical Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -92.3% | +26.3% |
| 5-year return | -99.3% | +95.4% |
| Volatility (ann.) | 117.6% | 19.6% |
| Beta vs S&P 500 | 0.41 | 1.28 |
| Max drawdown (3Y) | -95.4% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| 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 | ICCM | QQQ |
|---|---|---|
| 2022 | -49.2% | -32.6% |
| 2023 | -31.0% | +54.9% |
| 2024 | +2.8% | +25.6% |
| 2025 | -44.5% | +20.8% |
| 2026 | -87.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCM and QQQ good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCM and QQQ?
As of 2026-08-27, the correlation of weekly returns between ICCM and QQQ is 0.08 over 3 years, 0.19 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for ICCM?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
On the −1 to +1 scale, 0.08 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iccm-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iccm-vs-qqq/)
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Related comparisons
Hubs: ICCM correlations · QQQ correlations
