BOH vs QQQ: Correlation
How closely do Bank of Hawaii Corporation (BOH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOH and QQQ?
Over the past 3 years, BOH and QQQ moved with a correlation of 0.21, which is weak. The past 12 months show a weaker link (0.06) than the 3-year average (0.21). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 122.1 %².
QQQ is close to the least connected end of BOH's tracked universe, ranking #9 of 12. The trailing year gives QQQ the advantage: +16.9% versus +26.3%, a 9.4-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.
BOH vs QQQ: side by side
| BOH (Bank of Hawaii Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +16.9% | +26.3% |
| 5-year return | +14.3% | +95.4% |
| Volatility (ann.) | 29.1% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -24.2% | -22.8% |
| Market cap | $3.0B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 3.62% | 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 | BOH | QQQ |
|---|---|---|
| 2022 | -4.1% | -32.6% |
| 2023 | -1.5% | +54.9% |
| 2024 | +3.6% | +25.6% |
| 2025 | +0.0% | +20.8% |
| 2026 | +15.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOH and QQQ good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BOH and QQQ?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with 0.06 over the last year and 0.27 over 5 years.
Is QQQ a good diversifier for BOH?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 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.
Use this data
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Related comparisons
Hubs: BOH correlations · QQQ correlations
