HCC vs QQQ: Correlation
Warrior Met Coal, Inc. (HCC) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCC and QQQ?
On 3 years of weekly data the HCC/QQQ correlation comes out at 0.26, weak. Lately the two have drifted apart, with the 1-year correlation at -0.02 versus 0.26 over 3 years. The 5-year figure is 0.14, and annualized covariance runs at 241.4 %².
Out of 10 assets tracked against HCC, QQQ lands near the bottom at #7. The last year tells two different stories: HCC led by 58.0 percentage points, +84.3% for HCC against +26.3% for QQQ. One caveat on sizing: HCC 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.
HCC vs QQQ: side by side
| HCC (Warrior Met Coal, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +84.3% | +26.3% |
| 5-year return | +450.1% | +95.4% |
| Volatility (ann.) | 48.0% | 19.6% |
| Beta vs S&P 500 | 0.98 | 1.28 |
| Max drawdown (3Y) | -45.5% | -22.8% |
| Market cap | $5.7B | – |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 0.30% | 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 | HCC | QQQ |
|---|---|---|
| 2022 | +41.0% | -32.6% |
| 2023 | +81.6% | +54.9% |
| 2024 | -9.8% | +25.6% |
| 2025 | +63.5% | +20.8% |
| 2026 | +23.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCC and QQQ good diversifiers for each other?
Reasonably. At 0.26, HCC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HCC and QQQ?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with -0.02 over the last year and 0.14 over 5 years.
Is QQQ a good diversifier for HCC?
Reasonably. At 0.26, HCC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
On the −1 to +1 scale, 0.26 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: HCC correlations · QQQ correlations
