HFWA vs QQQ: Correlation
Measured on weekly returns over the past three years, Heritage Financial Corporation (HFWA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.16, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HFWA and QQQ?
On 3 years of weekly data the HFWA/QQQ correlation comes out at 0.16, weak. The past 12 months show a weaker link (-0.04) than the 3-year average (0.16). The 5-year figure is 0.19, and annualized covariance runs at 94.8 %².
QQQ is close to the least connected end of HFWA's tracked universe, ranking #11 of 14. On 12-month performance QQQ holds a 5.5-point edge, +20.8% against +26.3%. Risk is not evenly split, since HFWA carries 1.6 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.
HFWA vs QQQ: side by side
| HFWA (Heritage Financial Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +20.8% | +26.3% |
| 5-year return | +38.4% | +95.4% |
| Volatility (ann.) | 30.5% | 19.6% |
| Beta vs S&P 500 | 0.66 | 1.28 |
| Max drawdown (3Y) | -22.4% | -22.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | 13.7 | – |
| Dividend yield | 3.34% | 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 | HFWA | QQQ |
|---|---|---|
| 2022 | +29.3% | -32.6% |
| 2023 | -26.9% | +54.9% |
| 2024 | +19.8% | +25.6% |
| 2025 | +0.6% | +20.8% |
| 2026 | +24.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HFWA and QQQ good diversifiers for each other?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HFWA and QQQ?
The HFWA/QQQ correlation stands at 0.16 on a 3-year window (1 year: -0.04, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HFWA?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.16 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hfwa-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hfwa-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HFWA correlations · QQQ correlations
