DHR vs QQQ: Correlation
Measured on weekly returns over the past three years, Danaher Corporation (DHR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHR and QQQ?
Across a 3-year window, the weekly returns of DHR and QQQ correlate at 0.28, weak. Lately the two have drifted apart, with the 1-year correlation at 0.07 versus 0.28 over 3 years. Stretching to 5 years gives 0.45, with an annualized covariance of 162.1 %².
Among the 49 assets we track against DHR, QQQ ranks #39 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.3 points (+6.0% versus +26.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.10 to 0.61. One caveat on sizing: DHR is 1.5 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.
DHR vs QQQ: side by side
| DHR (Danaher Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.0% | +26.3% |
| 5-year return | -23.8% | +95.4% |
| Volatility (ann.) | 29.5% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -41.7% | -22.8% |
| Market cap | $151.6B | – |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 0.67% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | DHR | QQQ |
|---|---|---|
| 2022 | -19.0% | -32.6% |
| 2023 | -1.2% | +54.9% |
| 2024 | -0.3% | +25.6% |
| 2025 | +0.4% | +20.8% |
| 2026 | -5.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHR and QQQ good diversifiers for each other?
Reasonably. At 0.28, DHR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DHR and QQQ?
The DHR/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.07, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DHR?
Reasonably. At 0.28, DHR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
A reading of 0.28 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
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Related comparisons
Hubs: DHR correlations · QQQ correlations
