IP vs QQQ: Correlation
International Paper (IP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IP and QQQ?
On 3 years of weekly data the IP/QQQ correlation comes out at 0.20, weak. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.20). The 5-year figure is 0.29, and annualized covariance runs at 148.8 %².
Among the 29 assets we track against IP, QQQ ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 39.8 points (-13.5% versus +26.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.03 to 0.54. Risk is not evenly split, since IP carries 1.9 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.
IP vs QQQ: side by side
| IP (International Paper) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -13.5% | +26.3% |
| 5-year return | -11.2% | +95.4% |
| Volatility (ann.) | 37.8% | 19.6% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -48.6% | -22.8% |
| Market cap | $21.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.47% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Materials | 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 | IP | QQQ |
|---|---|---|
| 2022 | -23.0% | -32.6% |
| 2023 | +10.2% | +54.9% |
| 2024 | +55.3% | +25.6% |
| 2025 | -23.8% | +20.8% |
| 2026 | +5.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IP and QQQ good diversifiers for each other?
Reasonably. At 0.20, IP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IP and QQQ?
Using weekly returns as of 2026-08-27: 0.20 over 3 years, with 0.03 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for IP?
Reasonably. At 0.20, IP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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: IP correlations · QQQ correlations
