IDA vs QQQ: Correlation
Measured on weekly returns over the past three years, IDACORP, Inc. (IDA) and Invesco QQQ Trust (QQQ) carry a correlation of -0.06, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDA and QQQ?
Over the past 3 years, IDA and QQQ moved with a correlation of -0.06, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. Over 5 years the correlation is 0.15, and the annualized covariance of weekly returns is -19.7 %².
Out of 18 assets tracked against IDA, QQQ lands near the bottom at #15. The trailing year gives QQQ the advantage: +11.6% versus +26.3%, a 14.7-point spread.
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.
IDA vs QQQ: side by side
| IDA (IDACORP, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +11.6% | +26.3% |
| 5-year return | +51.7% | +95.4% |
| Volatility (ann.) | 17.8% | 19.6% |
| Beta vs S&P 500 | 0.10 | 1.28 |
| Max drawdown (3Y) | -13.6% | -22.8% |
| Market cap | $8.0B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 2.53% | 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 | IDA | QQQ |
|---|---|---|
| 2022 | -2.1% | -32.6% |
| 2023 | -6.0% | +54.9% |
| 2024 | +15.0% | +25.6% |
| 2025 | +19.2% | +20.8% |
| 2026 | +10.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDA and QQQ good diversifiers for each other?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IDA and QQQ?
As of 2026-08-27, the correlation of weekly returns between IDA and QQQ is -0.06 over 3 years, -0.13 over 1 year and 0.15 over 5 years.
Is QQQ a good diversifier for IDA?
Yes: at -0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.06 mean?
A reading of -0.06 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
$ curl https://www.pairbook.io/api/v1/pairs/ida-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ida-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IDA correlations · QQQ correlations
