HIVE vs QQQ: Correlation
How closely do HIVE Digital Technologies Ltd (HIVE) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and QQQ?
On 3 years of weekly data the HIVE/QQQ correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 659.0 %².
Among the 19 assets we track against HIVE, QQQ ranks #14 by 3-year correlation. The last year tells two different stories: QQQ led by 22.2 percentage points, +4.1% for HIVE against +26.3% for QQQ. Risk is not evenly split, since HIVE carries 4.8 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.
HIVE vs QQQ: side by side
| HIVE (HIVE Digital Technologies Ltd) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.1% | +26.3% |
| 5-year return | -80.7% | +95.4% |
| Volatility (ann.) | 94.1% | 19.6% |
| Beta vs S&P 500 | 2.26 | 1.28 |
| Max drawdown (3Y) | -77.1% | -22.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| 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 | HIVE | QQQ |
|---|---|---|
| 2022 | -89.1% | -32.6% |
| 2023 | +214.6% | +54.9% |
| 2024 | -37.1% | +25.6% |
| 2025 | -9.5% | +20.8% |
| 2026 | +18.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HIVE and QQQ?
As of 2026-08-27, the correlation of weekly returns between HIVE and QQQ is 0.36 over 3 years, 0.32 over 1 year and 0.46 over 5 years.
Is QQQ a good diversifier for HIVE?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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: HIVE correlations · QQQ correlations
