PH vs QQQ: Correlation
Measured on weekly returns over the past three years, Parker Hannifin (PH) and Invesco QQQ Trust (QQQ) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and QQQ?
Across a 3-year window, the weekly returns of PH and QQQ correlate at 0.52, moderate. The past 12 months show a weaker link (0.18) than the 3-year average (0.52). Stretching to 5 years gives 0.56, with an annualized covariance of 270.2 %².
Among the 57 assets we track against PH, QQQ ranks #35 by 3-year correlation. On 12-month performance PH holds a 6.5-point edge, +32.8% against +26.3%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.09 and 0.81 over the past three years, so this pair behaves very differently depending on the market environment.
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.
PH vs QQQ: side by side
| PH (Parker Hannifin) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.8% | +26.3% |
| 5-year return | +256.4% | +95.4% |
| Volatility (ann.) | 26.6% | 19.6% |
| Beta vs S&P 500 | 1.16 | 1.28 |
| Max drawdown (3Y) | -26.8% | -22.8% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | PH | QQQ |
|---|---|---|
| 2022 | -6.9% | -32.6% |
| 2023 | +60.8% | +54.9% |
| 2024 | +39.6% | +25.6% |
| 2025 | +39.5% | +20.8% |
| 2026 | +15.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and QQQ good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PH and QQQ?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.18 over the last year and 0.56 over 5 years.
Is QQQ a good diversifier for PH?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/ph-vs-qqq.json
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Related comparisons
Hubs: PH correlations · QQQ correlations
