IIF vs QQQ: Correlation
Measured on weekly returns over the past three years, Morgan Stanley India Investment Fund, Inc. (IIF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IIF and QQQ?
Over the past 3 years, IIF and QQQ moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 159.4 %².
Among the 14 assets we track against IIF, QQQ ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 33.0 percentage points (-6.7% for IIF against +26.3% for QQQ).
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.
IIF vs QQQ: side by side
| IIF (Morgan Stanley India Investment Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.7% | +26.3% |
| 5-year return | +44.4% | +95.4% |
| Volatility (ann.) | 17.4% | 19.6% |
| Beta vs S&P 500 | 0.61 | 1.28 |
| Max drawdown (3Y) | -24.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.56% | 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 | IIF | QQQ |
|---|---|---|
| 2022 | -9.6% | -32.6% |
| 2023 | +21.4% | +54.9% |
| 2024 | +29.6% | +25.6% |
| 2025 | +6.7% | +20.8% |
| 2026 | -7.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IIF and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IIF and QQQ?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.45 over the last year and 0.48 over 5 years.
Is QQQ a good diversifier for IIF?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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
$ curl https://www.pairbook.io/api/v1/pairs/iif-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iif-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IIF correlations · QQQ correlations
