ICLR vs QQQ: Correlation
ICON plc (ICLR) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICLR and QQQ?
On 3 years of weekly data the ICLR/QQQ correlation comes out at 0.22, weak. The relationship has been stable: the 1-year correlation (0.17) sits close to the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 224.6 %².
Among the 11 assets we track against ICLR, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: QQQ led by 28.8 percentage points, -2.5% for ICLR against +26.3% for QQQ. Risk is not evenly split, since ICLR carries 2.6 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.
ICLR vs QQQ: side by side
| ICLR (ICON plc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.5% | +26.3% |
| 5-year return | -33.7% | +95.4% |
| Volatility (ann.) | 51.4% | 19.6% |
| Beta vs S&P 500 | 1.03 | 1.28 |
| Max drawdown (3Y) | -76.9% | -22.8% |
| Market cap | $13.1B | – |
| P/E (trailing) | 265.2 | – |
| 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 | ICLR | QQQ |
|---|---|---|
| 2022 | -37.3% | -32.6% |
| 2023 | +45.7% | +54.9% |
| 2024 | -25.9% | +25.6% |
| 2025 | -13.1% | +20.8% |
| 2026 | -6.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICLR and QQQ good diversifiers for each other?
Reasonably. At 0.22, ICLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ICLR and QQQ?
The ICLR/QQQ correlation stands at 0.22 on a 3-year window (1 year: 0.17, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ICLR?
Reasonably. At 0.22, ICLR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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[](https://www.pairbook.io/pair/iclr-vs-qqq/)
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Related comparisons
Hubs: ICLR correlations · QQQ correlations
