INDO vs QQQ: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and QQQ?
On 3 years of weekly data the INDO/QQQ correlation comes out at -0.06, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.01) sits close to the 3-year figure. The 5-year figure is -0.00, and annualized covariance runs at -136.2 %².
By 3-year correlation, QQQ places #8 of the 102 assets tracked against INDO. Correlation aside, the last 12 months split them widely, with QQQ ahead by 27.7 points (-1.4% versus +26.3%). One caveat on sizing: INDO is 5.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
INDO vs QQQ: side by side
| INDO (Indonesia Energy Corporation Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.4% | +26.3% |
| 5-year return | -43.5% | +95.4% |
| Volatility (ann.) | 108.1% | 19.6% |
| Beta vs S&P 500 | -0.65 | 1.28 |
| Max drawdown (3Y) | -65.1% | -22.8% |
| Market cap | – | – |
| 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 | INDO | QQQ |
|---|---|---|
| 2022 | +66.4% | -32.6% |
| 2023 | -41.8% | +54.9% |
| 2024 | +2.6% | +25.6% |
| 2025 | +5.4% | +20.8% |
| 2026 | -3.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
FAQ
What is the correlation between INDO and QQQ?
Using weekly returns as of 2026-08-27: -0.06 over 3 years, with -0.01 over the last year and -0.00 over 5 years.
Is QQQ a good diversifier for INDO?
By historical standards, yes. A correlation of -0.06 means the two rarely move for the same reasons.
What does a correlation of -0.06 mean?
On the −1 to +1 scale, -0.06 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
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Related comparisons
Hubs: INDO correlations · QQQ correlations
