HPQ vs QQQ: Correlation
How closely do HP Inc. (HPQ) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPQ and QQQ?
Over the past 3 years, HPQ and QQQ moved with a correlation of 0.46, which is moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.46). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 306.7 %².
By 3-year correlation, QQQ places #18 of the 28 assets tracked against HPQ. The trailing year gives QQQ the advantage: +14.9% versus +26.3%, a 11.4-point spread. The rolling one-year correlation moved between 0.22 and 0.70 over the past three years, a moderate range. Risk is not evenly split, since HPQ carries 1.7 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.
HPQ vs QQQ: side by side
| HPQ (HP Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.9% | +26.3% |
| 5-year return | +19.9% | +95.4% |
| Volatility (ann.) | 34.2% | 19.6% |
| Beta vs S&P 500 | 1.15 | 1.28 |
| Max drawdown (3Y) | -51.2% | -22.8% |
| Market cap | $26.7B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Information Technology | 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 | HPQ | QQQ |
|---|---|---|
| 2022 | -26.4% | -32.6% |
| 2023 | +16.1% | +54.9% |
| 2024 | +12.1% | +25.6% |
| 2025 | -28.7% | +20.8% |
| 2026 | +36.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPQ and QQQ good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HPQ and QQQ?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.35 over the last year and 0.48 over 5 years.
Is QQQ a good diversifier for HPQ?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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/hpq-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hpq-vs-qqq/)
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Related comparisons
Hubs: HPQ correlations · QQQ correlations
