INBK vs QQQ: Correlation
Measured on weekly returns over the past three years, First Internet Bancorp (INBK) and Invesco QQQ Trust (QQQ) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INBK and QQQ?
Across a 3-year window, the weekly returns of INBK and QQQ correlate at 0.20, weak. Lately the two have drifted apart, with the 1-year correlation at 0.03 versus 0.20 over 3 years. Stretching to 5 years gives 0.17, with an annualized covariance of 168.3 %².
Among the 11 assets we track against INBK, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: QQQ led by 16.8 percentage points, +9.5% for INBK against +26.3% for QQQ. Note the risk asymmetry: INBK runs 2.2 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.
INBK vs QQQ: side by side
| INBK (First Internet Bancorp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +9.5% | +26.3% |
| 5-year return | -3.5% | +95.4% |
| Volatility (ann.) | 43.2% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -59.0% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.88% | 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 | INBK | QQQ |
|---|---|---|
| 2022 | -48.0% | -32.6% |
| 2023 | +1.0% | +54.9% |
| 2024 | +49.9% | +25.6% |
| 2025 | -41.4% | +20.8% |
| 2026 | +32.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INBK and QQQ good diversifiers for each other?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INBK and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.03 over the last year and 0.17 over 5 years.
Is QQQ a good diversifier for INBK?
A fair diversifier. At 0.20, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.20 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.
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Related comparisons
Hubs: INBK correlations · QQQ correlations
