HSY vs QQQ: Correlation
Hershey Company (The) (HSY) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and QQQ?
On 3 years of weekly data the HSY/QQQ correlation comes out at -0.07, near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. The 5-year figure is 0.05, and annualized covariance runs at -32.9 %².
Among the 30 assets we track against HSY, QQQ ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 23.5 points (+2.8% versus +26.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.29 and 0.26 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.
HSY vs QQQ: side by side
| HSY (Hershey Company (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.8% | +26.3% |
| 5-year return | +16.5% | +95.4% |
| Volatility (ann.) | 25.6% | 19.6% |
| Beta vs S&P 500 | 0.03 | 1.28 |
| Max drawdown (3Y) | -31.2% | -22.8% |
| Market cap | $36.4B | – |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 3.05% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Consumer Staples | 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 | HSY | QQQ |
|---|---|---|
| 2022 | +21.9% | -32.6% |
| 2023 | -17.9% | +54.9% |
| 2024 | -6.5% | +25.6% |
| 2025 | +11.0% | +20.8% |
| 2026 | +1.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and QQQ good diversifiers for each other?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HSY and QQQ?
The HSY/QQQ correlation stands at -0.07 on a 3-year window (1 year: -0.17, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HSY?
Yes: at -0.07, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.07 mean?
On the −1 to +1 scale, -0.07 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
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Related comparisons
Hubs: HSY correlations · QQQ correlations
