QQQ vs ULH: Correlation
How closely do Invesco QQQ Trust (QQQ) and Universal Logistics Holdings, Inc. (ULH) trade together? Their weekly returns over three years give a correlation of 0.20, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ULH?
On 3 years of weekly data the QQQ/ULH correlation comes out at 0.20, weak. The past 12 months show a weaker link (-0.02) than the 3-year average (0.20). The 5-year figure is 0.24, and annualized covariance runs at 265.2 %².
By 3-year correlation, ULH places #2864 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 52.3 percentage points (+26.3% for QQQ against -26.0% for ULH). One caveat on sizing: ULH is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ULH: side by side
| QQQ (Invesco QQQ Trust) | ULH (Universal Logistics Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -26.0% |
| 5-year return | +95.4% | -5.6% |
| Volatility (ann.) | 19.6% | 68.3% |
| Beta vs S&P 500 | 1.28 | 1.46 |
| Max drawdown (3Y) | -22.8% | -76.1% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 2.19% |
| 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 | ULH |
|---|---|---|
| 2022 | -32.6% | +79.9% |
| 2023 | +54.9% | -14.9% |
| 2024 | +25.6% | +65.6% |
| 2025 | +20.8% | -66.3% |
| 2026 | +17.7% | +26.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ULH good diversifiers for each other?
Reasonably. At 0.20, QQQ and ULH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and ULH?
The QQQ/ULH correlation stands at 0.20 on a 3-year window (1 year: -0.02, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is ULH a good diversifier for QQQ?
Reasonably. At 0.20, QQQ and ULH keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
A reading of 0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-ulh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-ulh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · ULH correlations
