NHS vs QQQ: Correlation
Neuberger High Yield Strategies Fund Inc. (NHS) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NHS and QQQ?
Across a 3-year window, the weekly returns of NHS and QQQ correlate at 0.39, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.39 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 97.8 %².
Among the 10 assets we track against NHS, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 33.4 percentage points, -7.1% for NHS against +26.3% for QQQ. Note the risk asymmetry: QQQ runs 1.5 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.
NHS vs QQQ: side by side
| NHS (Neuberger High Yield Strategies Fund Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -7.1% | +26.3% |
| 5-year return | -7.7% | +95.4% |
| Volatility (ann.) | 13.0% | 19.6% |
| Beta vs S&P 500 | 0.41 | 1.28 |
| Max drawdown (3Y) | -17.4% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 18.25% | 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 | NHS | QQQ |
|---|---|---|
| 2022 | -23.0% | -32.6% |
| 2023 | +3.7% | +54.9% |
| 2024 | +11.0% | +25.6% |
| 2025 | +14.8% | +20.8% |
| 2026 | -10.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHS and QQQ good diversifiers for each other?
Reasonably. At 0.39, NHS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NHS and QQQ?
As of 2026-08-27, the correlation of weekly returns between NHS and QQQ is 0.39 over 3 years, 0.39 over 1 year and 0.43 over 5 years.
Is QQQ a good diversifier for NHS?
Reasonably. At 0.39, NHS and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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
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Related comparisons
Hubs: NHS correlations · QQQ correlations
