HBB vs QQQ: Correlation
How closely do Hamilton Beach Brands Holding Company (HBB) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBB and QQQ?
Over the past 3 years, HBB and QQQ moved with a correlation of 0.17, which is weak. The past 12 months show a tighter link (0.29) than the 3-year average (0.17). Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 179.5 %².
QQQ is close to the least connected end of HBB's tracked universe, ranking #8 of 11. Correlation aside, the last 12 months split them widely, with HBB ahead by 105.2 points (+131.5% versus +26.3%). Risk is not evenly split, since HBB carries 2.8 times the volatility of the other side.
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.
HBB vs QQQ: side by side
| HBB (Hamilton Beach Brands Holding Company) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +131.5% | +26.3% |
| 5-year return | +119.7% | +95.4% |
| Volatility (ann.) | 55.5% | 19.6% |
| Beta vs S&P 500 | 0.87 | 1.28 |
| Max drawdown (3Y) | -57.7% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 1.50% | 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 | HBB | QQQ |
|---|---|---|
| 2022 | -10.9% | -32.6% |
| 2023 | +46.4% | +54.9% |
| 2024 | -1.6% | +25.6% |
| 2025 | +0.5% | +20.8% |
| 2026 | +99.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBB and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between HBB and QQQ?
As of 2026-08-27, the correlation of weekly returns between HBB and QQQ is 0.17 over 3 years, 0.29 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for HBB?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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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Related comparisons
Hubs: HBB correlations · QQQ correlations
