HPP vs QQQ: Correlation
Hudson Pacific Properties, Inc. (HPP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPP and QQQ?
On 3 years of weekly data the HPP/QQQ correlation comes out at 0.22, weak. The link has tightened recently: the 1-year correlation (0.36) runs above the 3-year figure (0.22). The 5-year figure is 0.26, and annualized covariance runs at 279.2 %².
Out of 12 assets tracked against HPP, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 58.5 points (-32.2% versus +26.3%). One caveat on sizing: HPP is 3.3 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.
HPP vs QQQ: side by side
| HPP (Hudson Pacific Properties, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -32.2% | +26.3% |
| 5-year return | -91.3% | +95.4% |
| Volatility (ann.) | 64.7% | 19.6% |
| Beta vs S&P 500 | 1.35 | 1.28 |
| Max drawdown (3Y) | -91.7% | -22.8% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | HPP | QQQ |
|---|---|---|
| 2022 | -57.9% | -32.6% |
| 2023 | +1.9% | +54.9% |
| 2024 | -66.9% | +25.6% |
| 2025 | -48.9% | +20.8% |
| 2026 | +25.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPP and QQQ good diversifiers for each other?
Reasonably. At 0.22, HPP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HPP and QQQ?
As of 2026-08-27, the correlation of weekly returns between HPP and QQQ is 0.22 over 3 years, 0.36 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for HPP?
Reasonably. At 0.22, HPP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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.
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Related comparisons
Hubs: HPP correlations · QQQ correlations
