ISRG vs QQQM: Correlation
Measured on weekly returns over the past three years, Intuitive Surgical (ISRG) and Invesco Nasdaq 100 ETF (QQQM) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISRG and QQQM?
Across a 3-year window, the weekly returns of ISRG and QQQM correlate at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.54). Stretching to 5 years gives 0.63, with an annualized covariance of 325.3 %².
Within ISRG's tracked universe of 36 assets, QQQM comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQM outperformed by 48.5 percentage points (-22.1% for ISRG against +26.4% for QQQM). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.22 to 0.73. One caveat on sizing: ISRG is 1.6 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.
ISRG vs QQQM: side by side
| ISRG (Intuitive Surgical) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | -22.1% | +26.4% |
| 5-year return | +4.0% | +96.1% |
| Volatility (ann.) | 31.1% | 19.5% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -45.6% | -22.7% |
| Market cap | $131.5B | – |
| P/E (trailing) | 42.5 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Health Care | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | ISRG | QQQM |
|---|---|---|
| 2022 | -26.1% | -32.5% |
| 2023 | +27.1% | +55.0% |
| 2024 | +54.7% | +25.7% |
| 2025 | +8.5% | +20.9% |
| 2026 | -35.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQM holds ISRG at a 0.58% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ISRG and QQQM good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ISRG and QQQM?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.36 over the last year and 0.63 over 5 years.
Is QQQM a good diversifier for ISRG?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 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
$ curl https://www.pairbook.io/api/v1/pairs/isrg-vs-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/isrg-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ISRG correlations · QQQM correlations
