HLP vs QQQ: Correlation
How closely do Hongli Group Inc. - Class A (HLP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLP and QQQ?
Across a 3-year window, the weekly returns of HLP and QQQ correlate at -0.01, near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.06 over 1 year against -0.01 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -15.0 %².
Among the 15 assets we track against HLP, QQQ ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HLP outperformed by 63.4 percentage points (+89.7% for HLP against +26.3% for QQQ). Risk is not evenly split, since HLP carries 6.5 times the volatility of the other side.
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.
HLP vs QQQ: side by side
| HLP (Hongli Group Inc. - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +89.7% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 127.2% | 19.6% |
| Beta vs S&P 500 | 0.02 | 1.28 |
| Max drawdown (3Y) | -91.9% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 43.0 | – |
| 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 | HLP | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | -22.0% | +25.6% |
| 2025 | -20.6% | +20.8% |
| 2026 | +24.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLP and QQQ good diversifiers for each other?
Yes. With a correlation of -0.01, HLP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HLP and QQQ?
As of 2026-08-27, the correlation of weekly returns between HLP and QQQ is -0.01 over 3 years, 0.06 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for HLP?
Yes. With a correlation of -0.01, HLP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.01 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.
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Related comparisons
Hubs: HLP correlations · QQQ correlations
