NGVT vs QQQ: Correlation
How closely do Ingevity Corporation (NGVT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGVT and QQQ?
Over the past 3 years, NGVT and QQQ moved with a correlation of 0.32, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.32 over 3 years. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 302.7 %².
Out of 23 assets tracked against NGVT, QQQ lands near the bottom at #20. Neither side won the trailing year by much: +21.5% against +26.3%. One caveat on sizing: NGVT is 2.5 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.
NGVT vs QQQ: side by side
| NGVT (Ingevity Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.5% | +26.3% |
| 5-year return | -14.1% | +95.4% |
| Volatility (ann.) | 48.8% | 19.6% |
| Beta vs S&P 500 | 1.39 | 1.28 |
| Max drawdown (3Y) | -45.8% | -22.8% |
| Market cap | $2.4B | – |
| P/E (trailing) | 98.2 | – |
| 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 | NGVT | QQQ |
|---|---|---|
| 2022 | -1.8% | -32.6% |
| 2023 | -33.0% | +54.9% |
| 2024 | -13.7% | +25.6% |
| 2025 | +45.2% | +20.8% |
| 2026 | +17.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NGVT and QQQ?
The NGVT/QQQ correlation stands at 0.32 on a 3-year window (1 year: 0.11, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NGVT?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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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Related comparisons
Hubs: NGVT correlations · QQQ correlations
