OIS vs QQQ: Correlation
Oil States International, Inc. (OIS) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OIS and QQQ?
On 3 years of weekly data the OIS/QQQ correlation comes out at 0.09, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.10) runs below the 3-year figure (0.09). The 5-year figure is 0.11, and annualized covariance runs at 94.7 %².
QQQ is close to the least connected end of OIS's tracked universe, ranking #7 of 10. The last year tells two different stories: OIS led by 30.5 percentage points, +56.8% for OIS against +26.3% for QQQ. Risk is not evenly split, since OIS carries 2.8 times the volatility of the other side.
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.
OIS vs QQQ: side by side
| OIS (Oil States International, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +56.8% | +26.3% |
| 5-year return | +48.7% | +95.4% |
| Volatility (ann.) | 55.2% | 19.6% |
| Beta vs S&P 500 | 0.78 | 1.28 |
| Max drawdown (3Y) | -62.9% | -22.8% |
| Market cap | $0.5B | – |
| 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 | OIS | QQQ |
|---|---|---|
| 2022 | +50.1% | -32.6% |
| 2023 | -9.0% | +54.9% |
| 2024 | -25.5% | +25.6% |
| 2025 | +33.8% | +20.8% |
| 2026 | +28.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OIS and QQQ good diversifiers for each other?
Yes. With a correlation of 0.09, OIS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OIS and QQQ?
As of 2026-08-27, the correlation of weekly returns between OIS and QQQ is 0.09 over 3 years, -0.10 over 1 year and 0.11 over 5 years.
Is QQQ a good diversifier for OIS?
Yes. With a correlation of 0.09, OIS and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ois-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ois-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OIS correlations · QQQ correlations
