INNV vs QQQ: Correlation
InnovAge Holding Corp. (INNV) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.08.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INNV and QQQ?
Over the past 3 years, INNV and QQQ moved with a correlation of 0.08, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.20 versus 0.08 over 3 years. Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is 96.6 %².
QQQ is close to the least connected end of INNV's tracked universe, ranking #7 of 10. Correlation aside, the last 12 months split them widely, with INNV ahead by 152.2 points (+178.5% versus +26.3%). Risk is not evenly split, since INNV carries 3.1 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.
INNV vs QQQ: side by side
| INNV (InnovAge Holding Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +178.5% | +26.3% |
| 5-year return | -27.1% | +95.4% |
| Volatility (ann.) | 61.2% | 19.6% |
| Beta vs S&P 500 | 0.61 | 1.28 |
| Max drawdown (3Y) | -65.4% | -22.8% |
| Market cap | $1.5B | – |
| 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 | INNV | QQQ |
|---|---|---|
| 2022 | +43.6% | -32.6% |
| 2023 | -16.4% | +54.9% |
| 2024 | -34.5% | +25.6% |
| 2025 | +32.1% | +20.8% |
| 2026 | +112.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INNV and QQQ good diversifiers for each other?
Yes. With a correlation of 0.08, INNV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INNV and QQQ?
Using weekly returns as of 2026-08-27: 0.08 over 3 years, with -0.20 over the last year and 0.10 over 5 years.
Is QQQ a good diversifier for INNV?
Yes. With a correlation of 0.08, INNV and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: INNV correlations · QQQ correlations
