IONS vs QQQ: Correlation
Measured on weekly returns over the past three years, Ionis Pharmaceuticals, Inc. (IONS) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IONS and QQQ?
Across a 3-year window, the weekly returns of IONS and QQQ correlate at 0.21, weak. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.21 over 3 years. Stretching to 5 years gives 0.26, with an annualized covariance of 180.5 %².
Among the 13 assets we track against IONS, QQQ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with IONS ahead by 19.7 points (+46.0% versus +26.3%). Note the risk asymmetry: IONS runs 2.3 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.
IONS vs QQQ: side by side
| IONS (Ionis Pharmaceuticals, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +46.0% | +26.3% |
| 5-year return | +59.5% | +95.4% |
| Volatility (ann.) | 44.7% | 19.6% |
| Beta vs S&P 500 | 0.72 | 1.28 |
| Max drawdown (3Y) | -52.4% | -22.8% |
| Market cap | $10.4B | – |
| 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 | IONS | QQQ |
|---|---|---|
| 2022 | +24.1% | -32.6% |
| 2023 | +33.9% | +54.9% |
| 2024 | -30.9% | +25.6% |
| 2025 | +126.3% | +20.8% |
| 2026 | -21.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IONS and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IONS and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.08 over the last year and 0.26 over 5 years.
Is QQQ a good diversifier for IONS?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 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.
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Related comparisons
Hubs: IONS correlations · QQQ correlations
