PI vs QQQ: Correlation
Impinj, Inc. (PI) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PI and QQQ?
Over the past 3 years, PI and QQQ moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 643.0 %².
Out of 10 assets tracked against PI, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 36.1 points (-9.8% versus +26.3%). Note the risk asymmetry: PI runs 3.6 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.
PI vs QQQ: side by side
| PI (Impinj, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -9.8% | +26.3% |
| 5-year return | +187.5% | +95.4% |
| Volatility (ann.) | 70.0% | 19.6% |
| Beta vs S&P 500 | 2.30 | 1.28 |
| Max drawdown (3Y) | -73.8% | -22.8% |
| Market cap | $5.1B | – |
| 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 | PI | QQQ |
|---|---|---|
| 2022 | +23.1% | -32.6% |
| 2023 | -17.5% | +54.9% |
| 2024 | +61.3% | +25.6% |
| 2025 | +19.8% | +20.8% |
| 2026 | -3.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PI and QQQ?
As of 2026-08-27, the correlation of weekly returns between PI and QQQ is 0.47 over 3 years, 0.47 over 1 year and 0.48 over 5 years.
Is QQQ a good diversifier for PI?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PI correlations · QQQ correlations
