HOOD vs QQQM: Correlation
Robinhood Markets (HOOD) and Invesco Nasdaq 100 ETF (QQQM) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and QQQM?
Over the past 3 years, HOOD and QQQM moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 823.2 %².
By 3-year correlation, QQQM places #9 of the 39 assets tracked against HOOD. Correlation aside, the last 12 months split them widely, with QQQM ahead by 19.8 points (+6.6% versus +26.4%). This link changes with the market regime, having swung between 0.24 and 0.78 on a rolling one-year basis. One caveat on sizing: HOOD is 3.7 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 QQQM: side by side
| HOOD (Robinhood Markets) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +6.6% | +26.4% |
| 5-year return | +151.5% | +96.1% |
| Volatility (ann.) | 71.4% | 19.5% |
| Beta vs S&P 500 | 2.88 | 1.28 |
| Max drawdown (3Y) | -57.3% | -22.7% |
| Market cap | $98.7B | – |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Financials | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | HOOD | QQQM |
|---|---|---|
| 2022 | -54.2% | -32.5% |
| 2023 | +56.5% | +55.0% |
| 2024 | +192.5% | +25.7% |
| 2025 | +203.5% | +20.9% |
| 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 QQQM good diversifiers for each other?
Only partially. A correlation of 0.59 means HOOD and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HOOD and QQQM?
As of 2026-08-27, the correlation of weekly returns between HOOD and QQQM is 0.59 over 3 years, 0.64 over 1 year and 0.54 over 5 years.
Is QQQM a good diversifier for HOOD?
Only partially. A correlation of 0.59 means HOOD and QQQM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hood-vs-qqqm.json
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Related comparisons
Hubs: HOOD correlations · QQQM correlations
