DINO vs QQQ: Correlation
Measured on weekly returns over the past three years, HF Sinclair Corporation (DINO) and Invesco QQQ Trust (QQQ) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DINO and QQQ?
On 3 years of weekly data the DINO/QQQ correlation comes out at 0.13, weak. Lately the two have drifted apart, with the 1-year correlation at -0.29 versus 0.13 over 3 years. The 5-year figure is 0.09, and annualized covariance runs at 95.4 %².
Out of 15 assets tracked against DINO, QQQ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with DINO ahead by 73.4 points (+99.7% versus +26.3%). One caveat on sizing: DINO is 1.9 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.
DINO vs QQQ: side by side
| DINO (HF Sinclair Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +99.7% | +26.3% |
| 5-year return | +259.1% | +95.4% |
| Volatility (ann.) | 37.3% | 19.6% |
| Beta vs S&P 500 | 0.56 | 1.28 |
| Max drawdown (3Y) | -57.4% | -22.8% |
| Market cap | $17.2B | – |
| P/E (trailing) | 9.2 | – |
| Dividend yield | 2.07% | 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 | DINO | QQQ |
|---|---|---|
| 2022 | +61.9% | -32.6% |
| 2023 | +11.0% | +54.9% |
| 2024 | -34.4% | +25.6% |
| 2025 | +38.1% | +20.8% |
| 2026 | +115.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DINO and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, DINO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DINO and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.29 over the last year and 0.09 over 5 years.
Is QQQ a good diversifier for DINO?
Yes. With a correlation of 0.13, DINO and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 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
$ curl https://www.pairbook.io/api/v1/pairs/dino-vs-qqq.json
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[](https://www.pairbook.io/pair/dino-vs-qqq/)
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Related comparisons
Hubs: DINO correlations · QQQ correlations
