IREN vs QQQ: Correlation
Measured on weekly returns over the past three years, IREN Limited (IREN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IREN and QQQ?
On 3 years of weekly data the IREN/QQQ correlation comes out at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.42 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 899.7 %².
QQQ is close to the least connected end of IREN's tracked universe, ranking #9 of 13. The last year tells two different stories: IREN led by 55.0 percentage points, +81.3% for IREN against +26.3% for QQQ. Risk is not evenly split, since IREN carries 5.6 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.
IREN vs QQQ: side by side
| IREN (IREN Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +81.3% | +26.3% |
| 5-year return | +65.8% | +95.4% |
| Volatility (ann.) | 109.0% | 19.6% |
| Beta vs S&P 500 | 2.80 | 1.28 |
| Max drawdown (3Y) | -65.6% | -22.8% |
| Market cap | $14.5B | – |
| P/E (trailing) | 51.3 | – |
| 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 | IREN | QQQ |
|---|---|---|
| 2022 | -92.3% | -32.6% |
| 2023 | +472.0% | +54.9% |
| 2024 | +37.3% | +25.6% |
| 2025 | +284.6% | +20.8% |
| 2026 | +7.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IREN and QQQ good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IREN and QQQ?
The IREN/QQQ correlation stands at 0.42 on a 3-year window (1 year: 0.55, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IREN?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iren-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iren-vs-qqq/)
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Related comparisons
Hubs: IREN correlations · QQQ correlations
