IT vs QQQ: Correlation
Measured on weekly returns over the past three years, Gartner (IT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IT and QQQ?
Over the past 3 years, IT and QQQ moved with a correlation of 0.29, which is weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.29 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 232.3 %².
Among the 36 assets we track against IT, QQQ ranks #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 46.5 percentage points (-20.2% for IT against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between 0.04 and 0.75 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: IT is 2.1 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.
IT vs QQQ: side by side
| IT (Gartner) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -20.2% | +26.3% |
| 5-year return | -36.0% | +95.4% |
| Volatility (ann.) | 40.6% | 19.6% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -77.2% | -22.8% |
| Market cap | $12.4B | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | IT | QQQ |
|---|---|---|
| 2022 | +0.5% | -32.6% |
| 2023 | +34.2% | +54.9% |
| 2024 | +7.4% | +25.6% |
| 2025 | -47.9% | +20.8% |
| 2026 | -22.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IT and QQQ?
The IT/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.19, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IT?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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