HLX vs QQQ: Correlation
How closely do Helix Energy Solutions Group, Inc. (HLX) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLX and QQQ?
On 3 years of weekly data the HLX/QQQ correlation comes out at 0.13, weak. The past 12 months show a weaker link (-0.09) than the 3-year average (0.13). The 5-year figure is 0.13, and annualized covariance runs at 105.5 %².
Out of 21 assets tracked against HLX, QQQ lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months HLX outperformed by 30.8 percentage points (+57.1% for HLX against +26.3% for QQQ). Note the risk asymmetry: HLX runs 2.2 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.
HLX vs QQQ: side by side
| HLX (Helix Energy Solutions Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.1% | +26.3% |
| 5-year return | +165.6% | +95.4% |
| Volatility (ann.) | 42.5% | 19.6% |
| Beta vs S&P 500 | 0.65 | 1.28 |
| Max drawdown (3Y) | -55.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 40.5 | – |
| 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 | HLX | QQQ |
|---|---|---|
| 2022 | +136.5% | -32.6% |
| 2023 | +39.3% | +54.9% |
| 2024 | -9.3% | +25.6% |
| 2025 | -32.7% | +20.8% |
| 2026 | +61.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLX and QQQ good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HLX and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with -0.09 over the last year and 0.13 over 5 years.
Is QQQ a good diversifier for HLX?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 mean?
On the −1 to +1 scale, 0.13 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
$ curl https://www.pairbook.io/api/v1/pairs/hlx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hlx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HLX correlations · QQQ correlations
