HYT vs QQQ: Correlation
How closely do Blackrock Corporate High Yield Fund, Inc. (HYT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and QQQ?
Across a 3-year window, the weekly returns of HYT and QQQ correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 127.3 %².
By 3-year correlation, QQQ places #10 of the 17 assets tracked against HYT. The last year tells two different stories: QQQ led by 27.9 percentage points, -1.6% for HYT against +26.3% for QQQ. Note the risk asymmetry: QQQ runs 1.7 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.
HYT vs QQQ: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.6% | +26.3% |
| 5-year return | +7.9% | +95.4% |
| Volatility (ann.) | 11.6% | 19.6% |
| Beta vs S&P 500 | 0.52 | 1.28 |
| Max drawdown (3Y) | -14.0% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 11.29% | 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 | HYT | QQQ |
|---|---|---|
| 2022 | -22.6% | -32.6% |
| 2023 | +19.9% | +54.9% |
| 2024 | +14.4% | +25.6% |
| 2025 | +0.0% | +20.8% |
| 2026 | +0.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and QQQ good diversifiers for each other?
Only partially. A correlation of 0.56 means HYT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HYT and QQQ?
The HYT/QQQ correlation stands at 0.56 on a 3-year window (1 year: 0.57, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for HYT?
Only partially. A correlation of 0.56 means HYT and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hyt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hyt-vs-qqq/)
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Related comparisons
Hubs: HYT correlations · QQQ correlations
