INSP vs QQQ: Correlation
How closely do Inspire Medical Systems, Inc. (INSP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INSP and QQQ?
Across a 3-year window, the weekly returns of INSP and QQQ correlate at 0.13, weak. Recent behaviour matches the longer record: 0.20 over 1 year against 0.13 over 3. Stretching to 5 years gives 0.27, with an annualized covariance of 169.3 %².
Among the 10 assets we track against INSP, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 60.4 percentage points, -34.1% for INSP against +26.3% for QQQ. One caveat on sizing: INSP is 3.4 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.
INSP vs QQQ: side by side
| INSP (Inspire Medical Systems, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -34.1% | +26.3% |
| 5-year return | -72.6% | +95.4% |
| Volatility (ann.) | 67.2% | 19.6% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -84.1% | -22.8% |
| Market cap | $1.8B | – |
| P/E (trailing) | 13.6 | – |
| 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 | INSP | QQQ |
|---|---|---|
| 2022 | +9.5% | -32.6% |
| 2023 | -19.2% | +54.9% |
| 2024 | -8.9% | +25.6% |
| 2025 | -50.2% | +20.8% |
| 2026 | -34.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INSP and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between INSP and QQQ?
The INSP/QQQ correlation stands at 0.13 on a 3-year window (1 year: 0.20, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for INSP?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 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.
Use this data
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Related comparisons
Hubs: INSP correlations · QQQ correlations
