HEI vs QQQ: Correlation
How closely do Heico Corporation (HEI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HEI and QQQ?
Across a 3-year window, the weekly returns of HEI and QQQ correlate at 0.37, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.37 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 197.1 %².
By 3-year correlation, QQQ places #7 of the 12 assets tracked against HEI. The last year tells two different stories: QQQ led by 19.8 percentage points, +6.5% for HEI against +26.3% for QQQ.
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.
HEI vs QQQ: side by side
| HEI (Heico Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.5% | +26.3% |
| 5-year return | +169.4% | +95.4% |
| Volatility (ann.) | 27.5% | 19.6% |
| Beta vs S&P 500 | 0.85 | 1.28 |
| Max drawdown (3Y) | -27.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 57.8 | – |
| 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 | HEI | QQQ |
|---|---|---|
| 2022 | +6.7% | -32.6% |
| 2023 | +16.6% | +54.9% |
| 2024 | +33.1% | +25.6% |
| 2025 | +36.2% | +20.8% |
| 2026 | +4.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HEI and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HEI and QQQ?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.44 over the last year and 0.43 over 5 years.
Is QQQ a good diversifier for HEI?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: HEI correlations · QQQ correlations
