IIIN vs QQQ: Correlation
How closely do Insteel Industries, Inc. (IIIN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IIIN and QQQ?
On 3 years of weekly data the IIIN/QQQ correlation comes out at 0.27, weak. The past 12 months show a weaker link (-0.20) than the 3-year average (0.27). The 5-year figure is 0.27, and annualized covariance runs at 209.2 %².
Within IIIN's tracked universe of 17 assets, QQQ comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 44.5 points (-18.2% versus +26.3%). Note the risk asymmetry: IIIN runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
IIIN vs QQQ: side by side
| IIIN (Insteel Industries, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -18.2% | +26.3% |
| 5-year return | +6.5% | +95.4% |
| Volatility (ann.) | 39.5% | 19.6% |
| Beta vs S&P 500 | 0.99 | 1.28 |
| Max drawdown (3Y) | -37.0% | -22.8% |
| Market cap | $0.6B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.39% | 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 | IIIN | QQQ |
|---|---|---|
| 2022 | -25.6% | -32.6% |
| 2023 | +50.0% | +54.9% |
| 2024 | -26.8% | +25.6% |
| 2025 | +21.5% | +20.8% |
| 2026 | -3.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IIIN and QQQ good diversifiers for each other?
Reasonably. At 0.27, IIIN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IIIN and QQQ?
As of 2026-08-27, the correlation of weekly returns between IIIN and QQQ is 0.27 over 3 years, -0.20 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for IIIN?
Reasonably. At 0.27, IIIN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IIIN correlations · QQQ correlations
