QQQ vs THC: Correlation
How closely do Invesco QQQ Trust (QQQ) and Tenet Healthcare Corporation (THC) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and THC?
Over the past 3 years, QQQ and THC moved with a correlation of 0.27, which is weak. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.27). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 228.5 %².
By 3-year correlation, THC places #1919 of the 4755 assets tracked against QQQ. Correlation aside, the last 12 months split them widely, with THC ahead by 20.9 points (+26.3% versus +47.2%). Note the risk asymmetry: THC runs 2.2 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.
QQQ vs THC: side by side
| QQQ (Invesco QQQ Trust) | THC (Tenet Healthcare Corporation) | |
|---|---|---|
| 1-year return | +26.3% | +47.2% |
| 5-year return | +95.4% | +254.8% |
| Volatility (ann.) | 19.6% | 43.5% |
| Beta vs S&P 500 | 1.28 | 1.01 |
| Max drawdown (3Y) | -22.8% | -34.5% |
| Market cap | – | $21.6B |
| P/E (trailing) | – | 10.6 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | QQQ | THC |
|---|---|---|
| 2022 | -32.6% | -40.3% |
| 2023 | +54.9% | +54.9% |
| 2024 | +25.6% | +67.0% |
| 2025 | +20.8% | +57.4% |
| 2026 | +17.7% | +34.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and THC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and THC?
As of 2026-08-27, the correlation of weekly returns between QQQ and THC is 0.27 over 3 years, 0.14 over 1 year and 0.35 over 5 years.
Is THC a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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/qqq-vs-thc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-thc/)
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Related comparisons
Hubs: QQQ correlations · THC correlations
