HBAN vs QQQ: Correlation
How closely do Huntington Bancshares (HBAN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and QQQ?
Across a 3-year window, the weekly returns of HBAN and QQQ correlate at 0.35, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.35). Stretching to 5 years gives 0.35, with an annualized covariance of 202.0 %².
Among the 55 assets we track against HBAN, QQQ ranks #45 by 3-year correlation. The last year tells two different stories: QQQ led by 28.0 percentage points, -1.7% for HBAN against +26.3% for QQQ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.03 and 0.66 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: HBAN runs 1.5 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.
HBAN vs QQQ: side by side
| HBAN (Huntington Bancshares) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.7% | +26.3% |
| 5-year return | +36.8% | +95.4% |
| Volatility (ann.) | 29.8% | 19.6% |
| Beta vs S&P 500 | 1.07 | 1.28 |
| Max drawdown (3Y) | -30.0% | -22.8% |
| Market cap | $34.1B | – |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 3.64% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | HBAN | QQQ |
|---|---|---|
| 2022 | -4.4% | -32.6% |
| 2023 | -4.7% | +54.9% |
| 2024 | +33.7% | +25.6% |
| 2025 | +10.8% | +20.8% |
| 2026 | -0.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HBAN and QQQ?
As of 2026-08-27, the correlation of weekly returns between HBAN and QQQ is 0.35 over 3 years, 0.18 over 1 year and 0.35 over 5 years.
Is QQQ a good diversifier for HBAN?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
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Related comparisons
Hubs: HBAN correlations · QQQ correlations
