HRTX vs QQQ: Correlation
Heron Therapeutics, Inc. (HRTX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTX and QQQ?
Over the past 3 years, HRTX and QQQ moved with a correlation of 0.22, which is weak. The link has tightened recently: the 1-year correlation (0.34) runs above the 3-year figure (0.22). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 430.1 %².
Out of 12 assets tracked against HRTX, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 101.9 points (-75.6% versus +26.3%). Note the risk asymmetry: HRTX runs 5.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HRTX vs QQQ: side by side
| HRTX (Heron Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -75.6% | +26.3% |
| 5-year return | -97.1% | +95.4% |
| Volatility (ann.) | 99.0% | 19.6% |
| Beta vs S&P 500 | 1.84 | 1.28 |
| Max drawdown (3Y) | -92.2% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | HRTX | QQQ |
|---|---|---|
| 2022 | -72.6% | -32.6% |
| 2023 | -32.0% | +54.9% |
| 2024 | -10.0% | +25.6% |
| 2025 | -15.0% | +20.8% |
| 2026 | -74.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTX and QQQ good diversifiers for each other?
Reasonably. At 0.22, HRTX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HRTX and QQQ?
Using weekly returns as of 2026-08-27: 0.22 over 3 years, with 0.34 over the last year and 0.27 over 5 years.
Is QQQ a good diversifier for HRTX?
Reasonably. At 0.22, HRTX and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.22 mean?
A reading of 0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrtx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrtx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HRTX correlations · QQQ correlations
