OI vs QQQ: Correlation
O-I Glass, Inc. (OI) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OI and QQQ?
Over the past 3 years, OI and QQQ moved with a correlation of 0.23, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.23 over 3 years. Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 177.6 %².
QQQ is close to the least connected end of OI's tracked universe, ranking #9 of 12. The last year tells two different stories: QQQ led by 71.1 percentage points, -44.8% for OI against +26.3% for QQQ. Note the risk asymmetry: OI runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OI vs QQQ: side by side
| OI (O-I Glass, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -44.8% | +26.3% |
| 5-year return | -53.2% | +95.4% |
| Volatility (ann.) | 40.3% | 19.6% |
| Beta vs S&P 500 | 0.91 | 1.28 |
| Max drawdown (3Y) | -68.6% | -22.8% |
| Market cap | $1.1B | – |
| 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 | OI | QQQ |
|---|---|---|
| 2022 | +37.7% | -32.6% |
| 2023 | -1.1% | +54.9% |
| 2024 | -33.8% | +25.6% |
| 2025 | +36.2% | +20.8% |
| 2026 | -51.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OI and QQQ?
The OI/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.10, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for OI?
Yes, to a useful degree: a correlation of 0.23 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.23 mean?
A reading of 0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oi-vs-qqq/)
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Related comparisons
Hubs: OI correlations · QQQ correlations
