HAE vs QQQ: Correlation
How closely do Haemonetics Corporation (HAE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.11, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAE and QQQ?
Over the past 3 years, HAE and QQQ moved with a correlation of 0.11, which is weak. The past 12 months show a weaker link (-0.09) than the 3-year average (0.11). Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 97.7 %².
Among the 12 assets we track against HAE, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months HAE outperformed by 64.5 percentage points (+90.8% for HAE against +26.3% for QQQ). One caveat on sizing: HAE is 2.4 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.
HAE vs QQQ: side by side
| HAE (Haemonetics Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +90.8% | +26.3% |
| 5-year return | +69.8% | +95.4% |
| Volatility (ann.) | 46.1% | 19.6% |
| Beta vs S&P 500 | 0.53 | 1.28 |
| Max drawdown (3Y) | -51.0% | -22.8% |
| Market cap | $4.8B | – |
| P/E (trailing) | 51.5 | – |
| 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 | HAE | QQQ |
|---|---|---|
| 2022 | +48.3% | -32.6% |
| 2023 | +8.7% | +54.9% |
| 2024 | -8.7% | +25.6% |
| 2025 | +2.7% | +20.8% |
| 2026 | +31.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAE and QQQ good diversifiers for each other?
Yes. With a correlation of 0.11, HAE and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HAE and QQQ?
As of 2026-08-27, the correlation of weekly returns between HAE and QQQ is 0.11 over 3 years, -0.09 over 1 year and 0.18 over 5 years.
Is QQQ a good diversifier for HAE?
Yes. With a correlation of 0.11, HAE and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
On the −1 to +1 scale, 0.11 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
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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: HAE correlations · QQQ correlations
