HLNE vs QTWO: Correlation
How closely do Hamilton Lane Incorporated (HLNE) and Q2 Holdings, Inc. (QTWO) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLNE and QTWO?
On 3 years of weekly data the HLNE/QTWO correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.60 over 3. The 5-year figure is 0.55, and annualized covariance runs at 931.9 %².
Among the 18 assets we track against HLNE, QTWO ranks #6 by 3-year correlation. On 12-month performance QTWO holds a 13.4-point edge, -29.4% against -16.0%.
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.
HLNE vs QTWO: side by side
| HLNE (Hamilton Lane Incorporated) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | -29.4% | -16.0% |
| 5-year return | +32.3% | -24.7% |
| Volatility (ann.) | 37.2% | 41.9% |
| Beta vs S&P 500 | 1.23 | 1.41 |
| Max drawdown (3Y) | -62.3% | -62.0% |
| Market cap | $5.9B | $4.1B |
| P/E (trailing) | 16.0 | 45.9 |
| Dividend yield | 2.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLNE | QTWO |
|---|---|---|
| 2022 | -37.0% | -66.2% |
| 2023 | +81.4% | +61.6% |
| 2024 | +32.4% | +131.9% |
| 2025 | -7.9% | -28.3% |
| 2026 | -19.4% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLNE and QTWO good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HLNE and QTWO?
The HLNE/QTWO correlation stands at 0.60 on a 3-year window (1 year: 0.63, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is QTWO a good diversifier for HLNE?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
A reading of 0.60 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/hlne-vs-qtwo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlne-vs-qtwo/)
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Related comparisons
Hubs: HLNE correlations · QTWO correlations
