IPI vs QQQ: Correlation
Intrepid Potash, Inc (IPI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.11.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPI and QQQ?
Across a 3-year window, the weekly returns of IPI and QQQ correlate at 0.11, weak. Lately the two have drifted apart, with the 1-year correlation at -0.16 versus 0.11 over 3 years. Stretching to 5 years gives 0.14, with an annualized covariance of 98.7 %².
QQQ is close to the least connected end of IPI's tracked universe, ranking #12 of 15. Twelve-month performance is nearly a tie, at +23.3% for IPI and +26.3% for QQQ. Risk is not evenly split, since IPI carries 2.4 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.
IPI vs QQQ: side by side
| IPI (Intrepid Potash, Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +23.3% | +26.3% |
| 5-year return | +20.2% | +95.4% |
| Volatility (ann.) | 48.0% | 19.6% |
| Beta vs S&P 500 | 0.56 | 1.28 |
| Max drawdown (3Y) | -38.5% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 31.7 | – |
| 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 | IPI | QQQ |
|---|---|---|
| 2022 | -32.4% | -32.6% |
| 2023 | -17.2% | +54.9% |
| 2024 | -8.2% | +25.6% |
| 2025 | +26.5% | +20.8% |
| 2026 | +35.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPI and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
FAQ
What is the correlation between IPI and QQQ?
The IPI/QQQ correlation stands at 0.11 on a 3-year window (1 year: -0.16, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IPI?
By historical standards, yes. A correlation of 0.11 means the two rarely move for the same reasons.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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
$ curl https://www.pairbook.io/api/v1/pairs/ipi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ipi-vs-qqq/)
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Related comparisons
Hubs: IPI correlations · QQQ correlations
