HQI vs QQQ: Correlation
How closely do HireQuest, Inc. (HQI) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQI and QQQ?
Across a 3-year window, the weekly returns of HQI and QQQ correlate at 0.13, weak. Little has changed lately, as the 1-year reading of 0.07 lands near the 3-year figure. Stretching to 5 years gives 0.22, with an annualized covariance of 106.1 %².
Out of 10 assets tracked against HQI, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with HQI ahead by 45.1 points (+71.4% versus +26.3%). Risk is not evenly split, since HQI carries 2.2 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.
HQI vs QQQ: side by side
| HQI (HireQuest, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +71.4% | +26.3% |
| 5-year return | -4.1% | +95.4% |
| Volatility (ann.) | 42.4% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -59.4% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 28.6 | – |
| Dividend yield | 1.41% | 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 | HQI | QQQ |
|---|---|---|
| 2022 | -20.4% | -32.6% |
| 2023 | -1.7% | +54.9% |
| 2024 | -6.1% | +25.6% |
| 2025 | -24.0% | +20.8% |
| 2026 | +54.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQI and QQQ good diversifiers for each other?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HQI and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.07 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for HQI?
Yes: at 0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.13 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/hqi-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hqi-vs-qqq/)
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Related comparisons
Hubs: HQI correlations · QQQ correlations
