HLIO vs QQQ: Correlation
Helios Technologies, Inc. (HLIO) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and QQQ?
Over the past 3 years, HLIO and QQQ moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 295.4 %².
Among the 18 assets we track against HLIO, QQQ sits near the bottom by co-movement, at rank #14. The trailing year gives HLIO the advantage: +37.8% versus +26.3%, a 11.5-point spread. One caveat on sizing: HLIO is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HLIO vs QQQ: side by side
| HLIO (Helios Technologies, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +37.8% | +26.3% |
| 5-year return | -5.7% | +95.4% |
| Volatility (ann.) | 42.8% | 19.6% |
| Beta vs S&P 500 | 1.18 | 1.28 |
| Max drawdown (3Y) | -55.9% | -22.8% |
| Market cap | $2.5B | – |
| P/E (trailing) | 34.9 | – |
| Dividend yield | 0.56% | 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 | HLIO | QQQ |
|---|---|---|
| 2022 | -48.0% | -32.6% |
| 2023 | -16.2% | +54.9% |
| 2024 | -0.8% | +25.6% |
| 2025 | +21.0% | +20.8% |
| 2026 | +39.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and QQQ good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HLIO and QQQ?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.27 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for HLIO?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlio-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlio-vs-qqq/)
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Related comparisons
Hubs: HLIO correlations · QQQ correlations
