OII vs QQQ: Correlation
Measured on weekly returns over the past three years, Oceaneering International, Inc. (OII) and Invesco QQQ Trust (QQQ) carry a correlation of 0.17, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OII and QQQ?
Over the past 3 years, OII and QQQ moved with a correlation of 0.17, which is weak. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.17). Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 142.2 %².
Among the 16 assets we track against OII, QQQ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with OII ahead by 83.6 points (+109.9% versus +26.3%). One caveat on sizing: OII is 2.2 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.
OII vs QQQ: side by side
| OII (Oceaneering International, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +109.9% | +26.3% |
| 5-year return | +316.7% | +95.4% |
| Volatility (ann.) | 43.5% | 19.6% |
| Beta vs S&P 500 | 0.81 | 1.28 |
| Max drawdown (3Y) | -47.8% | -22.8% |
| Market cap | $5.1B | – |
| P/E (trailing) | 14.8 | – |
| 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 | OII | QQQ |
|---|---|---|
| 2022 | +54.6% | -32.6% |
| 2023 | +21.7% | +54.9% |
| 2024 | +22.6% | +25.6% |
| 2025 | -7.9% | +20.8% |
| 2026 | +113.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OII and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between OII and QQQ?
The OII/QQQ correlation stands at 0.17 on a 3-year window (1 year: -0.11, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for OII?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
A reading of 0.17 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/oii-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oii-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OII correlations · QQQ correlations
