HP vs QQQ: Correlation
Measured on weekly returns over the past three years, Helmerich & Payne, Inc. (HP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.15, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HP and QQQ?
Across a 3-year window, the weekly returns of HP and QQQ correlate at 0.15, weak. Recent behaviour matches the longer record: 0.06 over 1 year against 0.15 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 129.1 %².
Out of 18 assets tracked against HP, QQQ lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with HP ahead by 94.5 points (+120.8% versus +26.3%). Risk is not evenly split, since HP carries 2.3 times the volatility of the other side.
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.
HP vs QQQ: side by side
| HP (Helmerich & Payne, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +120.8% | +26.3% |
| 5-year return | +92.0% | +95.4% |
| Volatility (ann.) | 44.3% | 19.6% |
| Beta vs S&P 500 | 0.76 | 1.28 |
| Max drawdown (3Y) | -64.4% | -22.8% |
| Market cap | $4.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.42% | 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 | HP | QQQ |
|---|---|---|
| 2022 | +115.2% | -32.6% |
| 2023 | -23.2% | +54.9% |
| 2024 | -7.8% | +25.6% |
| 2025 | -6.3% | +20.8% |
| 2026 | +50.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HP and QQQ good diversifiers for each other?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HP and QQQ?
The HP/QQQ correlation stands at 0.15 on a 3-year window (1 year: 0.06, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HP?
Yes: at 0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.15 mean?
On the −1 to +1 scale, 0.15 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/hp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hp-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HP correlations · QQQ correlations
