DLHC vs QQQ: Correlation
How closely do DLH Holdings Corp. (DLHC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLHC and QQQ?
On 3 years of weekly data the DLHC/QQQ correlation comes out at 0.31, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.31). The 5-year figure is 0.35, and annualized covariance runs at 247.0 %².
Among the 10 assets we track against DLHC, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 45.4 percentage points, -19.1% for DLHC against +26.3% for QQQ. One caveat on sizing: DLHC is 2.1 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.
DLHC vs QQQ: side by side
| DLHC (DLH Holdings Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -19.1% | +26.3% |
| 5-year return | -61.3% | +95.4% |
| Volatility (ann.) | 41.1% | 19.6% |
| Beta vs S&P 500 | 1.07 | 1.28 |
| Max drawdown (3Y) | -84.0% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | DLHC | QQQ |
|---|---|---|
| 2022 | -42.7% | -32.6% |
| 2023 | +32.7% | +54.9% |
| 2024 | -49.0% | +25.6% |
| 2025 | -29.6% | +20.8% |
| 2026 | -20.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLHC and QQQ good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DLHC and QQQ?
As of 2026-08-27, the correlation of weekly returns between DLHC and QQQ is 0.31 over 3 years, 0.18 over 1 year and 0.35 over 5 years.
Is QQQ a good diversifier for DLHC?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 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: DLHC correlations · QQQ correlations
