IXHL vs QQQ: Correlation
How closely do Incannex Healthcare Inc. (IXHL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IXHL and QQQ?
Across a 3-year window, the weekly returns of IXHL and QQQ correlate at 0.24, weak. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Stretching to 5 years gives 0.21, with an annualized covariance of 834.4 %².
Among the 10 assets we track against IXHL, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 107.9 points (-81.6% versus +26.3%). One caveat on sizing: IXHL is 9.2 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.
IXHL vs QQQ: side by side
| IXHL (Incannex Healthcare Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -81.6% | +26.3% |
| 5-year return | -99.8% | +95.4% |
| Volatility (ann.) | 180.7% | 19.6% |
| Beta vs S&P 500 | 3.15 | 1.28 |
| Max drawdown (3Y) | -99.0% | -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 | IXHL | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | -58.6% | +54.9% |
| 2024 | -54.3% | +25.6% |
| 2025 | -83.1% | +20.8% |
| 2026 | -65.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IXHL and QQQ good diversifiers for each other?
Reasonably. At 0.24, IXHL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IXHL and QQQ?
The IXHL/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.33, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for IXHL?
Reasonably. At 0.24, IXHL and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 mean?
On the −1 to +1 scale, 0.24 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ixhl-vs-qqq/)
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Related comparisons
Hubs: IXHL correlations · QQQ correlations
