QQQ vs UHT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Universal Health Realty Income Trust (UHT) carry a correlation of 0.08, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UHT?
On 3 years of weekly data the QQQ/UHT correlation comes out at 0.08, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.21 versus 0.08 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 39.4 %².
By 3-year correlation, UHT places #4016 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 16.9 percentage points, +26.3% for QQQ against +9.4% for UHT.
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 UHT: side by side
| QQQ (Invesco QQQ Trust) | UHT (Universal Health Realty Income Trust) | |
|---|---|---|
| 1-year return | +26.3% | +9.4% |
| 5-year return | +95.4% | -3.5% |
| Volatility (ann.) | 19.6% | 25.4% |
| Beta vs S&P 500 | 1.28 | 0.40 |
| Max drawdown (3Y) | -22.8% | -27.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 30.2 |
| Dividend yield | 0.44% | 7.07% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | UHT |
|---|---|---|
| 2022 | -32.6% | -15.3% |
| 2023 | +54.9% | -3.6% |
| 2024 | +25.6% | -7.4% |
| 2025 | +20.8% | +13.3% |
| 2026 | +17.7% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UHT good diversifiers for each other?
Yes. With a correlation of 0.08, QQQ and UHT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and UHT?
The QQQ/UHT correlation stands at 0.08 on a 3-year window (1 year: -0.21, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is UHT a good diversifier for QQQ?
Yes. With a correlation of 0.08, QQQ and UHT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.08 mean?
On the −1 to +1 scale, 0.08 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: QQQ correlations · UHT correlations
