HOFT vs QQQ: Correlation
How closely do Hooker Furnishings Corporation (HOFT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOFT and QQQ?
Across a 3-year window, the weekly returns of HOFT and QQQ correlate at 0.20, weak. The past 12 months show a weaker link (-0.02) than the 3-year average (0.20). Stretching to 5 years gives 0.23, with an annualized covariance of 207.2 %².
Out of 12 assets tracked against HOFT, QQQ lands near the bottom at #9. The trailing year gives HOFT the advantage: +38.9% versus +26.3%, a 12.6-point spread. Note the risk asymmetry: HOFT runs 2.7 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.
HOFT vs QQQ: side by side
| HOFT (Hooker Furnishings Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +38.9% | +26.3% |
| 5-year return | -46.3% | +95.4% |
| Volatility (ann.) | 53.9% | 19.6% |
| Beta vs S&P 500 | 1.11 | 1.28 |
| Max drawdown (3Y) | -69.9% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.02% | 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 | HOFT | QQQ |
|---|---|---|
| 2022 | -15.7% | -32.6% |
| 2023 | +45.7% | +54.9% |
| 2024 | -43.3% | +25.6% |
| 2025 | -13.3% | +20.8% |
| 2026 | +21.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOFT and QQQ good diversifiers for each other?
Reasonably. At 0.20, HOFT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HOFT and QQQ?
As of 2026-08-27, the correlation of weekly returns between HOFT and QQQ is 0.20 over 3 years, -0.02 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for HOFT?
Reasonably. At 0.20, HOFT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 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: HOFT correlations · QQQ correlations
