NHC vs QQQ: Correlation
National HealthCare Corporation (NHC) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NHC and QQQ?
On 3 years of weekly data the NHC/QQQ correlation comes out at 0.16, weak. The past 12 months show a weaker link (-0.20) than the 3-year average (0.16). The 5-year figure is 0.22, and annualized covariance runs at 95.1 %².
Out of 11 assets tracked against NHC, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months NHC outperformed by 75.6 percentage points (+101.9% for NHC against +26.3% for QQQ). Risk is not evenly split, since NHC carries 1.5 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.
NHC vs QQQ: side by side
| NHC (National HealthCare Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +101.9% | +26.3% |
| 5-year return | +243.9% | +95.4% |
| Volatility (ann.) | 29.9% | 19.6% |
| Beta vs S&P 500 | 0.50 | 1.28 |
| Max drawdown (3Y) | -33.4% | -22.8% |
| Market cap | $3.5B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.15% | 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 | NHC | QQQ |
|---|---|---|
| 2022 | -9.4% | -32.6% |
| 2023 | +60.8% | +54.9% |
| 2024 | +19.0% | +25.6% |
| 2025 | +30.3% | +20.8% |
| 2026 | +63.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHC and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between NHC and QQQ?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with -0.20 over the last year and 0.22 over 5 years.
Is QQQ a good diversifier for NHC?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 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/nhc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nhc-vs-qqq/)
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Related comparisons
Hubs: NHC correlations · QQQ correlations
