HTZ vs QQQ: Correlation
Measured on weekly returns over the past three years, Hertz Global Holdings, Inc (HTZ) and Invesco QQQ Trust (QQQ) carry a correlation of 0.13, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTZ and QQQ?
Across a 3-year window, the weekly returns of HTZ and QQQ correlate at 0.13, weak. The link has tightened recently: the 1-year correlation (0.38) runs above the 3-year figure (0.13). Stretching to 5 years gives 0.19, with an annualized covariance of 262.0 %².
Out of 14 assets tracked against HTZ, QQQ lands near the bottom at #11. The last year tells two different stories: QQQ led by 91.4 percentage points, -65.1% for HTZ against +26.3% for QQQ. Risk is not evenly split, since HTZ carries 5.2 times the volatility of the other side.
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.
HTZ vs QQQ: side by side
| HTZ (Hertz Global Holdings, Inc) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -65.1% | +26.3% |
| 5-year return | -87.9% | +95.4% |
| Volatility (ann.) | 102.2% | 19.6% |
| Beta vs S&P 500 | 1.27 | 1.28 |
| Max drawdown (3Y) | -91.2% | -22.8% |
| Market cap | $0.7B | – |
| 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 | HTZ | QQQ |
|---|---|---|
| 2022 | -38.4% | -32.6% |
| 2023 | -32.5% | +54.9% |
| 2024 | -64.8% | +25.6% |
| 2025 | +40.4% | +20.8% |
| 2026 | -60.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTZ and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between HTZ and QQQ?
The HTZ/QQQ correlation stands at 0.13 on a 3-year window (1 year: 0.38, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HTZ?
By historical standards, yes. A correlation of 0.13 means the two rarely move for the same reasons.
What does a correlation of 0.13 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: HTZ correlations · QQQ correlations
