HRZN vs QQQ: Correlation
How closely do Horizon Technology Finance Corporation (HRZN) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRZN and QQQ?
On 3 years of weekly data the HRZN/QQQ correlation comes out at 0.17, weak. Recent behaviour matches the longer record: 0.19 over 1 year against 0.17 over 3. The 5-year figure is 0.28, and annualized covariance runs at 110.3 %².
Within HRZN's tracked universe of 16 assets, QQQ comes in at #7 by 3-year correlation. The last year tells two different stories: QQQ led by 40.9 percentage points, -14.6% for HRZN against +26.3% for QQQ. One caveat on sizing: HRZN is 1.7 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.
HRZN vs QQQ: side by side
| HRZN (Horizon Technology Finance Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -14.6% | +26.3% |
| 5-year return | -44.7% | +95.4% |
| Volatility (ann.) | 32.9% | 19.6% |
| Beta vs S&P 500 | 0.55 | 1.28 |
| Max drawdown (3Y) | -59.4% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 23.38% | 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 | HRZN | QQQ |
|---|---|---|
| 2022 | -19.7% | -32.6% |
| 2023 | +27.0% | +54.9% |
| 2024 | -22.9% | +25.6% |
| 2025 | -14.4% | +20.8% |
| 2026 | -14.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRZN and QQQ good diversifiers for each other?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HRZN and QQQ?
The HRZN/QQQ correlation stands at 0.17 on a 3-year window (1 year: 0.19, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HRZN?
Yes: at 0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.17 mean?
On the −1 to +1 scale, 0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrzn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrzn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HRZN correlations · QQQ correlations
