IGIC vs QQQ: Correlation
How closely do International General Insurance Holdings Ltd. (IGIC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGIC and QQQ?
Across a 3-year window, the weekly returns of IGIC and QQQ correlate at 0.13, weak. The link has loosened recently: the 1-year correlation (-0.10) runs below the 3-year figure (0.13). Stretching to 5 years gives 0.14, with an annualized covariance of 73.6 %².
Out of 12 assets tracked against IGIC, QQQ lands near the bottom at #9. Over the last 12 months QQQ came out ahead by 10.5 percentage points (+15.8% against +26.3%).
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.
IGIC vs QQQ: side by side
| IGIC (International General Insurance Holdings Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.8% | +26.3% |
| 5-year return | +246.3% | +95.4% |
| Volatility (ann.) | 28.5% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -18.2% | -22.8% |
| Market cap | $1.1B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 1.31% | 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 | IGIC | QQQ |
|---|---|---|
| 2022 | +1.6% | -32.6% |
| 2023 | +61.7% | +54.9% |
| 2024 | +92.4% | +25.6% |
| 2025 | +13.8% | +20.8% |
| 2026 | +12.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGIC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, IGIC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IGIC and QQQ?
The IGIC/QQQ correlation stands at 0.13 on a 3-year window (1 year: -0.10, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IGIC?
Yes. With a correlation of 0.13, IGIC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 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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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/igic-vs-qqq/)
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Related comparisons
Hubs: IGIC correlations · QQQ correlations
