ICFI vs QQQ: Correlation
ICF International, Inc. (ICFI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICFI and QQQ?
On 3 years of weekly data the ICFI/QQQ correlation comes out at 0.18, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 132.2 %².
Among the 13 assets we track against ICFI, QQQ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 35.7 percentage points (-9.4% for ICFI against +26.3% for QQQ). Note the risk asymmetry: ICFI runs 1.9 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.
ICFI vs QQQ: side by side
| ICFI (ICF International, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -9.4% | +26.3% |
| 5-year return | -2.1% | +95.4% |
| Volatility (ann.) | 37.8% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -65.6% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 0.63% | 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 | ICFI | QQQ |
|---|---|---|
| 2022 | -2.9% | -32.6% |
| 2023 | +36.0% | +54.9% |
| 2024 | -10.8% | +25.6% |
| 2025 | -28.0% | +20.8% |
| 2026 | +5.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICFI and QQQ good diversifiers for each other?
Yes. With a correlation of 0.18, ICFI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ICFI and QQQ?
As of 2026-08-27, the correlation of weekly returns between ICFI and QQQ is 0.18 over 3 years, 0.19 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for ICFI?
Yes. With a correlation of 0.18, ICFI and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 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/icfi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ICFI correlations · QQQ correlations
