HOOD vs QQQ: Correlation
Measured on weekly returns over the past three years, Robinhood Markets (HOOD) and Invesco QQQ Trust (QQQ) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and QQQ?
Across a 3-year window, the weekly returns of HOOD and QQQ correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 827.4 %².
Among the 39 assets we track against HOOD, QQQ ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 19.7 points (+6.6% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.24 and 0.78 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: HOOD is 3.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HOOD vs QQQ: side by side
| HOOD (Robinhood Markets) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.6% | +26.3% |
| 5-year return | +151.5% | +95.4% |
| Volatility (ann.) | 71.4% | 19.6% |
| Beta vs S&P 500 | 2.88 | 1.28 |
| Max drawdown (3Y) | -57.3% | -22.8% |
| Market cap | $98.7B | – |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Financials | 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 | HOOD | QQQ |
|---|---|---|
| 2022 | -54.2% | -32.6% |
| 2023 | +56.5% | +54.9% |
| 2024 | +192.5% | +25.6% |
| 2025 | +203.5% | +20.8% |
| 2026 | -3.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and QQQ good diversifiers for each other?
To a limited degree. At 0.59 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 HOOD and QQQ?
The HOOD/QQQ correlation stands at 0.59 on a 3-year window (1 year: 0.64, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HOOD?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HOOD correlations · QQQ correlations
