DHF vs QQQ: Correlation
Measured on weekly returns over the past three years, BNY Mellon High Yield Strategies Fund (DHF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHF and QQQ?
Across a 3-year window, the weekly returns of DHF and QQQ correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 125.7 %².
By 3-year correlation, QQQ places #7 of the 15 assets tracked against DHF. Correlation aside, the last 12 months split them widely, with QQQ ahead by 26.9 points (-0.6% versus +26.3%). One caveat on sizing: QQQ is 1.7 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.
DHF vs QQQ: side by side
| DHF (BNY Mellon High Yield Strategies Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.6% | +26.3% |
| 5-year return | +7.9% | +95.4% |
| Volatility (ann.) | 11.4% | 19.6% |
| Beta vs S&P 500 | 0.52 | 1.28 |
| Max drawdown (3Y) | -11.8% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 8.90% | 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 | DHF | QQQ |
|---|---|---|
| 2022 | -22.5% | -32.6% |
| 2023 | +15.0% | +54.9% |
| 2024 | +21.4% | +25.6% |
| 2025 | +5.9% | +20.8% |
| 2026 | -0.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHF and QQQ good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DHF and QQQ?
As of 2026-08-27, the correlation of weekly returns between DHF and QQQ is 0.56 over 3 years, 0.52 over 1 year and 0.59 over 5 years.
Is QQQ a good diversifier for DHF?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/dhf-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dhf-vs-qqq/)
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Related comparisons
Hubs: DHF correlations · QQQ correlations
