QQQ vs THW: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and abrdn World Healthcare Fund Shares of Beneficial Interest (THW) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and THW?
Over the past 3 years, QQQ and THW moved with a correlation of 0.39, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 163.1 %².
By 3-year correlation, THW places #727 of the 4755 assets tracked against QQQ. Over the last 12 months THW came out ahead by 7.4 percentage points (+26.3% against +33.7%).
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 THW: side by side
| QQQ (Invesco QQQ Trust) | THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | +26.3% | +33.7% |
| 5-year return | +95.4% | +40.2% |
| Volatility (ann.) | 19.6% | 21.4% |
| Beta vs S&P 500 | 1.28 | 0.75 |
| Max drawdown (3Y) | -22.8% | -25.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 6.6 |
| 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 | THW |
|---|---|---|
| 2022 | -32.6% | -1.2% |
| 2023 | +54.9% | -11.5% |
| 2024 | +25.6% | +5.4% |
| 2025 | +20.8% | +31.1% |
| 2026 | +17.7% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and THW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and THW?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.47 over the last year and 0.49 over 5 years.
Is THW a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: QQQ correlations · THW correlations
