HLMN vs QQQ: Correlation
Measured on weekly returns over the past three years, Hillman Solutions Corp. (HLMN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLMN and QQQ?
On 3 years of weekly data the HLMN/QQQ correlation comes out at 0.33, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.33). The 5-year figure is 0.35, and annualized covariance runs at 237.0 %².
Out of 19 assets tracked against HLMN, QQQ lands near the bottom at #16. The last year tells two different stories: QQQ led by 47.6 percentage points, -21.3% for HLMN against +26.3% for QQQ. One caveat on sizing: HLMN is 1.9 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.
HLMN vs QQQ: side by side
| HLMN (Hillman Solutions Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -21.3% | +26.3% |
| 5-year return | -33.4% | +95.4% |
| Volatility (ann.) | 36.7% | 19.6% |
| Beta vs S&P 500 | 1.01 | 1.28 |
| Max drawdown (3Y) | -42.3% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | 39.2 | – |
| 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 | HLMN | QQQ |
|---|---|---|
| 2022 | -32.9% | -32.6% |
| 2023 | +27.7% | +54.9% |
| 2024 | +5.8% | +25.6% |
| 2025 | -11.1% | +20.8% |
| 2026 | -9.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLMN and QQQ good diversifiers for each other?
Reasonably. At 0.33, HLMN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HLMN and QQQ?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.16 over the last year and 0.35 over 5 years.
Is QQQ a good diversifier for HLMN?
Reasonably. At 0.33, HLMN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: HLMN correlations · QQQ correlations
