HLI vs QQQ: Correlation
Houlihan Lokey, Inc. (HLI) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLI and QQQ?
On 3 years of weekly data the HLI/QQQ correlation comes out at 0.41, moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.41). The 5-year figure is 0.45, and annualized covariance runs at 206.8 %².
QQQ is close to the least connected end of HLI's tracked universe, ranking #12 of 15. The last year tells two different stories: QQQ led by 60.0 percentage points, -33.7% for HLI 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.
HLI vs QQQ: side by side
| HLI (Houlihan Lokey, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -33.7% | +26.3% |
| 5-year return | +58.6% | +95.4% |
| Volatility (ann.) | 25.5% | 19.6% |
| Beta vs S&P 500 | 0.95 | 1.28 |
| Max drawdown (3Y) | -40.3% | -22.8% |
| Market cap | $9.1B | – |
| P/E (trailing) | 21.8 | – |
| Dividend yield | 1.93% | 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 | HLI | QQQ |
|---|---|---|
| 2022 | -13.9% | -32.6% |
| 2023 | +40.7% | +54.9% |
| 2024 | +47.0% | +25.6% |
| 2025 | +1.6% | +20.8% |
| 2026 | -24.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLI and QQQ good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HLI and QQQ?
The HLI/QQQ correlation stands at 0.41 on a 3-year window (1 year: 0.27, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HLI?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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/hli-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hli-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLI correlations · QQQ correlations
