HRMY vs QQQ: Correlation
Measured on weekly returns over the past three years, Harmony Biosciences Holdings, Inc. (HRMY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRMY and QQQ?
On 3 years of weekly data the HRMY/QQQ correlation comes out at 0.32, moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.32). The 5-year figure is 0.27, and annualized covariance runs at 311.8 %².
Out of 11 assets tracked against HRMY, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 21.5 percentage points (+4.8% for HRMY against +26.3% for QQQ). One caveat on sizing: HRMY is 2.5 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.
HRMY vs QQQ: side by side
| HRMY (Harmony Biosciences Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.8% | +26.3% |
| 5-year return | +7.6% | +95.4% |
| Volatility (ann.) | 49.1% | 19.6% |
| Beta vs S&P 500 | 1.31 | 1.28 |
| Max drawdown (3Y) | -50.8% | -22.8% |
| Market cap | $2.3B | – |
| P/E (trailing) | 12.8 | – |
| 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 | HRMY | QQQ |
|---|---|---|
| 2022 | +29.2% | -32.6% |
| 2023 | -41.4% | +54.9% |
| 2024 | +6.5% | +25.6% |
| 2025 | +8.7% | +20.8% |
| 2026 | +6.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRMY and QQQ good diversifiers for each other?
Reasonably. At 0.32, HRMY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HRMY and QQQ?
As of 2026-08-27, the correlation of weekly returns between HRMY and QQQ is 0.32 over 3 years, 0.15 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for HRMY?
Reasonably. At 0.32, HRMY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 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/hrmy-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrmy-vs-qqq/)
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Related comparisons
Hubs: HRMY correlations · QQQ correlations
