HON vs QQQ: Correlation
How closely do Honeywell Technologies (HON) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and QQQ?
Across a 3-year window, the weekly returns of HON and QQQ correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.38 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 172.9 %².
By 3-year correlation, QQQ places #21 of the 32 assets tracked against HON. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 23.6 percentage points (+2.7% for HON against +26.3% for QQQ). On a rolling one-year basis the correlation drifted between 0.22 and 0.57, a moderate band.
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.
HON vs QQQ: side by side
| HON (Honeywell Technologies) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.7% | +26.3% |
| 5-year return | +6.6% | +95.4% |
| Volatility (ann.) | 23.2% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -22.1% | -22.8% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | HON | QQQ |
|---|---|---|
| 2022 | +4.9% | -32.6% |
| 2023 | +0.0% | +54.9% |
| 2024 | +10.0% | +25.6% |
| 2025 | -6.4% | +20.8% |
| 2026 | +9.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QQQ holds HON at a 0.31% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are HON and QQQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HON and QQQ?
The HON/QQQ correlation stands at 0.38 on a 3-year window (1 year: 0.27, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HON?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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
$ curl https://www.pairbook.io/api/v1/pairs/hon-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hon-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HON correlations · QQQ correlations
