DHY vs QQQ: Correlation
How closely do Credit Suisse High Yield Credit Fund (DHY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHY and QQQ?
On 3 years of weekly data the DHY/QQQ correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.40). The 5-year figure is 0.47, and annualized covariance runs at 84.9 %².
Within DHY's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 35.8 percentage points (-9.5% for DHY against +26.3% for QQQ). Risk is not evenly split, since QQQ carries 1.8 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.
DHY vs QQQ: side by side
| DHY (Credit Suisse High Yield Credit Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -9.5% | +26.3% |
| 5-year return | +9.4% | +95.4% |
| Volatility (ann.) | 10.9% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -12.9% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 10.81% | 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 | DHY | QQQ |
|---|---|---|
| 2022 | -21.5% | -32.6% |
| 2023 | +23.5% | +54.9% |
| 2024 | +18.5% | +25.6% |
| 2025 | +2.5% | +20.8% |
| 2026 | -8.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHY and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DHY and QQQ?
The DHY/QQQ correlation stands at 0.40 on a 3-year window (1 year: 0.25, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for DHY?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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: DHY correlations · QQQ correlations
