NODK vs QQQ: Correlation
Measured on weekly returns over the past three years, NI Holdings, Inc. (NODK) and Invesco QQQ Trust (QQQ) carry a correlation of 0.10, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NODK and QQQ?
On 3 years of weekly data the NODK/QQQ correlation comes out at 0.10, weak. The relationship has been stable: the 1-year correlation (0.04) sits close to the 3-year figure. The 5-year figure is 0.21, and annualized covariance runs at 44.1 %².
Among the 10 assets we track against NODK, QQQ sits near the bottom by co-movement, at rank #7. The trailing year gives QQQ the advantage: +14.7% versus +26.3%, a 11.6-point spread.
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.
NODK vs QQQ: side by side
| NODK (NI Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.7% | +26.3% |
| 5-year return | -21.2% | +95.4% |
| Volatility (ann.) | 22.7% | 19.6% |
| Beta vs S&P 500 | 0.27 | 1.28 |
| Max drawdown (3Y) | -28.4% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 40.1 | – |
| 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 | NODK | QQQ |
|---|---|---|
| 2022 | -29.8% | -32.6% |
| 2023 | -2.1% | +54.9% |
| 2024 | +20.9% | +25.6% |
| 2025 | -15.3% | +20.8% |
| 2026 | +14.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NODK and QQQ good diversifiers for each other?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NODK and QQQ?
The NODK/QQQ correlation stands at 0.10 on a 3-year window (1 year: 0.04, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NODK?
Yes: at 0.10, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.10 mean?
A reading of 0.10 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: NODK correlations · QQQ correlations
