NI vs QQQ: Correlation
How closely do NiSource (NI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.07, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NI and QQQ?
On 3 years of weekly data the NI/QQQ correlation comes out at 0.07, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.07 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 24.8 %².
Among the 38 assets we track against NI, QQQ ranks #28 by 3-year correlation. The last year tells two different stories: QQQ led by 27.2 percentage points, -0.9% for NI against +26.3% for QQQ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.23 and 0.38 over the past three years, so this pair behaves very differently depending on the market environment.
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.
NI vs QQQ: side by side
| NI (NiSource) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.9% | +26.3% |
| 5-year return | +94.6% | +95.4% |
| Volatility (ann.) | 17.8% | 19.6% |
| Beta vs S&P 500 | 0.26 | 1.28 |
| Max drawdown (3Y) | -16.7% | -22.8% |
| Market cap | $19.6B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 1.41% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | 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 | NI | QQQ |
|---|---|---|
| 2022 | +2.7% | -32.6% |
| 2023 | +0.5% | +54.9% |
| 2024 | +43.5% | +25.6% |
| 2025 | +16.8% | +20.8% |
| 2026 | +0.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NI and QQQ good diversifiers for each other?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NI and QQQ?
The NI/QQQ correlation stands at 0.07 on a 3-year window (1 year: -0.10, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NI?
Yes: at 0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.07 mean?
A reading of 0.07 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: NI correlations · QQQ correlations
