HLLY vs QQQ: Correlation
How closely do Holley Inc. (HLLY) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLLY and QQQ?
Over the past 3 years, HLLY and QQQ moved with a correlation of 0.22, which is weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.22). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 260.0 %².
QQQ is close to the least connected end of HLLY's tracked universe, ranking #14 of 18. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 51.7 percentage points (-25.4% for HLLY against +26.3% for QQQ). Note the risk asymmetry: HLLY runs 3.1 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.
HLLY vs QQQ: side by side
| HLLY (Holley Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -25.4% | +26.3% |
| 5-year return | -74.8% | +95.4% |
| Volatility (ann.) | 60.1% | 19.6% |
| Beta vs S&P 500 | 1.33 | 1.28 |
| Max drawdown (3Y) | -70.2% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 33.0 | – |
| 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 | HLLY | QQQ |
|---|---|---|
| 2022 | -83.7% | -32.6% |
| 2023 | +129.7% | +54.9% |
| 2024 | -38.0% | +25.6% |
| 2025 | +36.8% | +20.8% |
| 2026 | -28.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLLY and QQQ good diversifiers for each other?
Reasonably. At 0.22, HLLY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HLLY and QQQ?
As of 2026-08-27, the correlation of weekly returns between HLLY and QQQ is 0.22 over 3 years, 0.05 over 1 year and 0.20 over 5 years.
Is QQQ a good diversifier for HLLY?
Reasonably. At 0.22, HLLY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 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: HLLY correlations · QQQ correlations
