HAL vs QQQ: Correlation
How closely do Halliburton (HAL) 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 HAL and QQQ?
On 3 years of weekly data the HAL/QQQ correlation comes out at 0.11, weak. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.11). The 5-year figure is 0.14, and annualized covariance runs at 79.3 %².
Among the 44 assets we track against HAL, QQQ ranks #34 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HAL outperformed by 36.5 percentage points (+62.8% for HAL against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between -0.13 and 0.39 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: HAL runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HAL vs QQQ: side by side
| HAL (Halliburton) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +62.8% | +26.3% |
| 5-year return | +93.6% | +95.4% |
| Volatility (ann.) | 38.0% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -54.0% | -22.8% |
| Market cap | $29.6B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Energy | 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 | HAL | QQQ |
|---|---|---|
| 2022 | +74.5% | -32.6% |
| 2023 | -6.5% | +54.9% |
| 2024 | -23.2% | +25.6% |
| 2025 | +7.0% | +20.8% |
| 2026 | +26.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and QQQ good diversifiers for each other?
Yes. With a correlation of 0.11, HAL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HAL and QQQ?
The HAL/QQQ correlation stands at 0.11 on a 3-year window (1 year: -0.08, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HAL?
Yes. With a correlation of 0.11, HAL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.11 mean?
A reading of 0.11 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HAL correlations · QQQ correlations
