HRL vs QQQ: Correlation
How closely do Hormel Foods (HRL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of -0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRL and QQQ?
Over the past 3 years, HRL and QQQ moved with a correlation of -0.01, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.12) runs below the 3-year figure (-0.01). Over 5 years the correlation is 0.07, and the annualized covariance of weekly returns is -5.8 %².
By 3-year correlation, QQQ places #23 of the 35 assets tracked against HRL. Correlation aside, the last 12 months split them widely, with QQQ ahead by 49.1 points (-22.8% versus +26.3%). Across three years, the rolling one-year figure varied moderately, from -0.11 to 0.19.
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.
HRL vs QQQ: side by side
| HRL (Hormel Foods) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -22.8% | +26.3% |
| 5-year return | -44.3% | +95.4% |
| Volatility (ann.) | 26.1% | 19.6% |
| Beta vs S&P 500 | 0.07 | 1.28 |
| Max drawdown (3Y) | -44.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 28.0 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Staples | 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 | HRL | QQQ |
|---|---|---|
| 2022 | -4.7% | -32.6% |
| 2023 | -27.5% | +54.9% |
| 2024 | +1.2% | +25.6% |
| 2025 | -21.3% | +20.8% |
| 2026 | -6.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRL and QQQ good diversifiers for each other?
Yes. With a correlation of -0.01, HRL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HRL and QQQ?
The HRL/QQQ correlation stands at -0.01 on a 3-year window (1 year: -0.12, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HRL?
Yes. With a correlation of -0.01, HRL and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.01 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
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Related comparisons
Hubs: HRL correlations · QQQ correlations
