NHI vs QQQ: Correlation
National Health Investors, Inc. (NHI) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.02.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NHI and QQQ?
Over the past 3 years, NHI and QQQ moved with a correlation of 0.02, which is near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.24) runs below the 3-year figure (0.02). Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 8.7 %².
Out of 13 assets tracked against NHI, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 28.5 points (-2.2% versus +26.3%).
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.
NHI vs QQQ: side by side
| NHI (National Health Investors, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.2% | +26.3% |
| 5-year return | +63.1% | +95.4% |
| Volatility (ann.) | 20.8% | 19.6% |
| Beta vs S&P 500 | 0.22 | 1.28 |
| Max drawdown (3Y) | -24.1% | -22.8% |
| Market cap | $3.6B | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 5.01% | 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 | NHI | QQQ |
|---|---|---|
| 2022 | -3.3% | -32.6% |
| 2023 | +14.6% | +54.9% |
| 2024 | +30.7% | +25.6% |
| 2025 | +15.7% | +20.8% |
| 2026 | -2.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHI and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
FAQ
What is the correlation between NHI and QQQ?
Using weekly returns as of 2026-08-27: 0.02 over 3 years, with -0.24 over the last year and 0.18 over 5 years.
Is QQQ a good diversifier for NHI?
By historical standards, yes. A correlation of 0.02 means the two rarely move for the same reasons.
What does a correlation of 0.02 mean?
A reading of 0.02 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
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[](https://www.pairbook.io/pair/nhi-vs-qqq/)
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Related comparisons
Hubs: NHI correlations · QQQ correlations
