HSIC vs QQQ: Correlation
How closely do Henry Schein (HSIC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSIC and QQQ?
Over the past 3 years, HSIC and QQQ moved with a correlation of 0.08, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.09 versus 0.08 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 37.9 %².
Within HSIC's tracked universe of 34 assets, QQQ comes in at #23 by 3-year correlation. Twelve-month performance is nearly a tie, at +30.9% for HSIC and +26.3% for QQQ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.12 and 0.50 over the past three years, so this pair behaves very differently depending on the market environment.
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.
HSIC vs QQQ: side by side
| HSIC (Henry Schein) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +30.9% | +26.3% |
| 5-year return | +20.1% | +95.4% |
| Volatility (ann.) | 25.2% | 19.6% |
| Beta vs S&P 500 | 0.33 | 1.28 |
| Max drawdown (3Y) | -24.3% | -22.8% |
| Market cap | $10.1B | – |
| P/E (trailing) | 26.3 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | HSIC | QQQ |
|---|---|---|
| 2022 | +3.0% | -32.6% |
| 2023 | -5.2% | +54.9% |
| 2024 | -8.6% | +25.6% |
| 2025 | +9.2% | +20.8% |
| 2026 | +19.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSIC and QQQ good diversifiers for each other?
Yes. With a correlation of 0.08, HSIC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HSIC and QQQ?
As of 2026-08-27, the correlation of weekly returns between HSIC and QQQ is 0.08 over 3 years, -0.09 over 1 year and 0.26 over 5 years.
Is QQQ a good diversifier for HSIC?
Yes. With a correlation of 0.08, HSIC and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.08 mean?
A reading of 0.08 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HSIC correlations · QQQ correlations
