HRTG vs QQQ: Correlation
How closely do Heritage Insurance Holdings, Inc. (HRTG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.09, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTG and QQQ?
On 3 years of weekly data the HRTG/QQQ correlation comes out at 0.09, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.06) runs below the 3-year figure (0.09). The 5-year figure is 0.12, and annualized covariance runs at 121.4 %².
QQQ is close to the least connected end of HRTG's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months HRTG outperformed by 27.3 percentage points (+53.6% for HRTG against +26.3% for QQQ). One caveat on sizing: HRTG is 3.6 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.
HRTG vs QQQ: side by side
| HRTG (Heritage Insurance Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +53.6% | +26.3% |
| 5-year return | +422.5% | +95.4% |
| Volatility (ann.) | 71.1% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -43.9% | -22.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 4.9 | – |
| 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 | HRTG | QQQ |
|---|---|---|
| 2022 | -68.6% | -32.6% |
| 2023 | +262.2% | +54.9% |
| 2024 | +85.6% | +25.6% |
| 2025 | +141.8% | +20.8% |
| 2026 | +16.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTG and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between HRTG and QQQ?
As of 2026-08-27, the correlation of weekly returns between HRTG and QQQ is 0.09 over 3 years, -0.06 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for HRTG?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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: HRTG correlations · QQQ correlations
