HYLN vs QQQ: Correlation
Measured on weekly returns over the past three years, Hyliion Holdings Corp. (HYLN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYLN and QQQ?
On 3 years of weekly data the HYLN/QQQ correlation comes out at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 644.7 %².
QQQ is close to the least connected end of HYLN's tracked universe, ranking #11 of 14. Correlation aside, the last 12 months split them widely, with HYLN ahead by 75.5 points (+101.8% versus +26.3%). Note the risk asymmetry: HYLN runs 5.5 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.
HYLN vs QQQ: side by side
| HYLN (Hyliion Holdings Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +101.8% | +26.3% |
| 5-year return | -60.9% | +95.4% |
| Volatility (ann.) | 108.2% | 19.6% |
| Beta vs S&P 500 | 2.37 | 1.28 |
| Max drawdown (3Y) | -70.3% | -22.8% |
| Market cap | $0.6B | – |
| 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 | HYLN | QQQ |
|---|---|---|
| 2022 | -62.3% | -32.6% |
| 2023 | -65.2% | +54.9% |
| 2024 | +220.6% | +25.6% |
| 2025 | -29.5% | +20.8% |
| 2026 | +85.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYLN and QQQ good diversifiers for each other?
Reasonably. At 0.30, HYLN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HYLN and QQQ?
The HYLN/QQQ correlation stands at 0.30 on a 3-year window (1 year: 0.32, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HYLN?
Reasonably. At 0.30, HYLN and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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/hyln-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hyln-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HYLN correlations · QQQ correlations
