HLIT vs QQQ: Correlation
Harmonic Inc. (HLIT) 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 HLIT and QQQ?
On 3 years of weekly data the HLIT/QQQ correlation comes out at 0.41, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.41). The 5-year figure is 0.39, and annualized covariance runs at 380.4 %².
Among the 11 assets we track against HLIT, QQQ sits near the bottom by co-movement, at rank #7. Twelve-month performance is nearly a tie, at +29.4% for HLIT and +26.3% for QQQ. Note the risk asymmetry: HLIT runs 2.4 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.
HLIT vs QQQ: side by side
| HLIT (Harmonic Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +29.4% | +26.3% |
| 5-year return | +34.2% | +95.4% |
| Volatility (ann.) | 46.9% | 19.6% |
| Beta vs S&P 500 | 1.41 | 1.28 |
| Max drawdown (3Y) | -44.3% | -22.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 51.2 | – |
| 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 | HLIT | QQQ |
|---|---|---|
| 2022 | +11.4% | -32.6% |
| 2023 | -0.5% | +54.9% |
| 2024 | +1.5% | +25.6% |
| 2025 | -25.2% | +20.8% |
| 2026 | +24.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and QQQ good diversifiers for each other?
Reasonably. At 0.41, HLIT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HLIT and QQQ?
As of 2026-08-27, the correlation of weekly returns between HLIT and QQQ is 0.41 over 3 years, 0.52 over 1 year and 0.39 over 5 years.
Is QQQ a good diversifier for HLIT?
Reasonably. At 0.41, HLIT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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
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Related comparisons
Hubs: HLIT correlations · QQQ correlations
