INDI vs QQQ: Correlation
Measured on weekly returns over the past three years, indie Semiconductor, Inc. (INDI) and Invesco QQQ Trust (QQQ) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDI and QQQ?
Over the past 3 years, INDI and QQQ moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 855.4 %².
Within INDI's tracked universe of 13 assets, QQQ comes in at #6 by 3-year correlation. The last year tells two different stories: QQQ led by 39.2 percentage points, -12.9% for INDI against +26.3% for QQQ. Risk is not evenly split, since INDI carries 4.4 times the volatility of the other side.
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.
INDI vs QQQ: side by side
| INDI (indie Semiconductor, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -12.9% | +26.3% |
| 5-year return | -59.1% | +95.4% |
| Volatility (ann.) | 86.4% | 19.6% |
| Beta vs S&P 500 | 3.07 | 1.28 |
| Max drawdown (3Y) | -81.3% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | INDI | QQQ |
|---|---|---|
| 2022 | -51.4% | -32.6% |
| 2023 | +39.1% | +54.9% |
| 2024 | -50.1% | +25.6% |
| 2025 | -12.8% | +20.8% |
| 2026 | +14.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDI and QQQ good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between INDI and QQQ?
As of 2026-08-27, the correlation of weekly returns between INDI and QQQ is 0.51 over 3 years, 0.44 over 1 year and 0.50 over 5 years.
Is QQQ a good diversifier for INDI?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/indi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/indi-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDI correlations · QQQ correlations
