QQQ vs UNH: Correlation
How closely do Invesco QQQ Trust (QQQ) and UnitedHealth Group (UNH) trade together? Their weekly returns over three years give a correlation of 0.01, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and UNH?
Across a 3-year window, the weekly returns of QQQ and UNH correlate at 0.01, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.24) than the 3-year average (0.01). Stretching to 5 years gives 0.10, with an annualized covariance of 8.1 %².
Among the 4755 assets we track against QQQ, UNH ranks #4449 by 3-year correlation. The trailing year gives UNH the advantage: +26.3% versus +33.5%, a 7.2-point spread. This link changes with the market regime, having swung between -0.40 and 0.38 on a rolling one-year basis. One caveat on sizing: UNH is 2.0 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 UNH: side by side
| QQQ (Invesco QQQ Trust) | UNH (UnitedHealth Group) | |
|---|---|---|
| 1-year return | +26.3% | +33.5% |
| 5-year return | +95.4% | +3.1% |
| Volatility (ann.) | 19.6% | 39.8% |
| Beta vs S&P 500 | 1.28 | 0.17 |
| Max drawdown (3Y) | -22.8% | -61.4% |
| Market cap | – | $354.6B |
| P/E (trailing) | – | 25.8 |
| Dividend yield | 0.44% | 2.23% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Health Care |
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 | UNH |
|---|---|---|
| 2022 | -32.6% | +6.9% |
| 2023 | +54.9% | +0.8% |
| 2024 | +25.6% | -2.4% |
| 2025 | +20.8% | -33.1% |
| 2026 | +17.7% | +21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and UNH good diversifiers for each other?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and UNH?
As of 2026-08-27, the correlation of weekly returns between QQQ and UNH is 0.01 over 3 years, 0.24 over 1 year and 0.10 over 5 years.
Is UNH a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.01 means the two rarely move for the same reasons.
What does a correlation of 0.01 mean?
A reading of 0.01 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: QQQ correlations · UNH correlations
