HIPO vs QQQ: Correlation
Hippo Holdings Inc. (HIPO) 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 HIPO and QQQ?
Across a 3-year window, the weekly returns of HIPO and QQQ correlate at 0.26, weak. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 326.4 %².
Among the 10 assets we track against HIPO, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 29.5 percentage points, -3.2% for HIPO against +26.3% for QQQ. Note the risk asymmetry: HIPO runs 3.3 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.
HIPO vs QQQ: side by side
| HIPO (Hippo Holdings Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.2% | +26.3% |
| 5-year return | -73.4% | +95.4% |
| Volatility (ann.) | 64.1% | 19.6% |
| Beta vs S&P 500 | 1.59 | 1.28 |
| Max drawdown (3Y) | -39.6% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 7.0 | – |
| 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 | HIPO | QQQ |
|---|---|---|
| 2022 | -80.8% | -32.6% |
| 2023 | -32.9% | +54.9% |
| 2024 | +193.5% | +25.6% |
| 2025 | +12.4% | +20.8% |
| 2026 | +8.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIPO and QQQ good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HIPO and QQQ?
The HIPO/QQQ correlation stands at 0.26 on a 3-year window (1 year: 0.34, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HIPO?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 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
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Related comparisons
Hubs: HIPO correlations · QQQ correlations
