ICHR vs QQQ: Correlation
How closely do Ichor Holdings (ICHR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICHR and QQQ?
On 3 years of weekly data the ICHR/QQQ correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 706.9 %².
By 3-year correlation, QQQ places #6 of the 12 assets tracked against ICHR. The last year tells two different stories: ICHR led by 213.5 percentage points, +239.8% for ICHR against +26.3% for QQQ. Risk is not evenly split, since ICHR carries 3.8 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.
ICHR vs QQQ: side by side
| ICHR (Ichor Holdings) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +239.8% | +26.3% |
| 5-year return | +32.8% | +95.4% |
| Volatility (ann.) | 75.0% | 19.6% |
| Beta vs S&P 500 | 2.32 | 1.28 |
| Max drawdown (3Y) | -69.1% | -22.8% |
| Market cap | $2.2B | – |
| 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 | ICHR | QQQ |
|---|---|---|
| 2022 | -41.7% | -32.6% |
| 2023 | +25.4% | +54.9% |
| 2024 | -4.2% | +25.6% |
| 2025 | -42.8% | +20.8% |
| 2026 | +220.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICHR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ICHR and QQQ?
The ICHR/QQQ correlation stands at 0.48 on a 3-year window (1 year: 0.41, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ICHR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: ICHR correlations · QQQ correlations
