INOD vs QQQ: Correlation
Innodata Inc. (INOD) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INOD and QQQ?
Over the past 3 years, INOD and QQQ moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 1118.5 %².
Among the 14 assets we track against INOD, QQQ ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INOD ahead by 25.3 points (+51.6% versus +26.3%). Note the risk asymmetry: INOD runs 6.3 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.
INOD vs QQQ: side by side
| INOD (Innodata Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +51.6% | +26.3% |
| 5-year return | +620.6% | +95.4% |
| Volatility (ann.) | 122.9% | 19.6% |
| Beta vs S&P 500 | 3.71 | 1.28 |
| Max drawdown (3Y) | -63.0% | -22.8% |
| Market cap | $2.0B | – |
| P/E (trailing) | 43.2 | – |
| 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 | INOD | QQQ |
|---|---|---|
| 2022 | -49.8% | -32.6% |
| 2023 | +174.1% | +54.9% |
| 2024 | +385.5% | +25.6% |
| 2025 | +28.9% | +20.8% |
| 2026 | +16.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INOD and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INOD and QQQ?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.53 over the last year and 0.43 over 5 years.
Is QQQ a good diversifier for INOD?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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: INOD correlations · QQQ correlations
