IPW vs QQQ: Correlation
How closely do iPower Inc. (IPW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPW and QQQ?
Across a 3-year window, the weekly returns of IPW and QQQ correlate at 0.09, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.05) sits close to the 3-year figure. Stretching to 5 years gives 0.10, with an annualized covariance of 703.7 %².
Among the 37 assets we track against IPW, QQQ ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 124.9 points (-98.6% versus +26.3%). One caveat on sizing: IPW is 20.7 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.
IPW vs QQQ: side by side
| IPW (iPower Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -98.6% | +26.3% |
| 5-year return | -99.8% | +95.4% |
| Volatility (ann.) | 405.9% | 19.6% |
| Beta vs S&P 500 | 2.99 | 1.28 |
| Max drawdown (3Y) | -100.0% | -22.8% |
| Market cap | – | – |
| 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 | IPW | QQQ |
|---|---|---|
| 2022 | -83.2% | -32.6% |
| 2023 | +12.5% | +54.9% |
| 2024 | +85.1% | +25.6% |
| 2025 | -70.1% | +20.8% |
| 2026 | -96.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPW and QQQ good diversifiers for each other?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IPW and QQQ?
As of 2026-08-27, the correlation of weekly returns between IPW and QQQ is 0.09 over 3 years, 0.05 over 1 year and 0.10 over 5 years.
Is QQQ a good diversifier for IPW?
Yes: at 0.09, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.09 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: IPW correlations · QQQ correlations
