QQQ vs XHR: Correlation
Invesco QQQ Trust (QQQ) and Xenia Hotels & Resorts, Inc. (XHR) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and XHR?
Over the past 3 years, QQQ and XHR moved with a correlation of 0.38, which is moderate. The link has loosened recently: the 1-year correlation (-0.08) runs below the 3-year figure (0.38). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 223.6 %².
Among the 4755 assets we track against QQQ, XHR ranks #804 by 3-year correlation. Over the last 12 months XHR came out ahead by 13.9 percentage points (+26.3% against +40.2%). Risk is not evenly split, since XHR carries 1.5 times the volatility of the other side.
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 XHR: side by side
| QQQ (Invesco QQQ Trust) | XHR (Xenia Hotels & Resorts, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +40.2% |
| 5-year return | +95.4% | +29.3% |
| Volatility (ann.) | 19.6% | 30.0% |
| Beta vs S&P 500 | 1.28 | 0.97 |
| Max drawdown (3Y) | -22.8% | -42.5% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 2.90% |
| 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 | XHR |
|---|---|---|
| 2022 | -32.6% | -26.1% |
| 2023 | +54.9% | +6.7% |
| 2024 | +25.6% | +12.7% |
| 2025 | +20.8% | -0.7% |
| 2026 | +17.7% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and XHR good diversifiers for each other?
Reasonably. At 0.38, QQQ and XHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and XHR?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with -0.08 over the last year and 0.47 over 5 years.
Is XHR a good diversifier for QQQ?
Reasonably. At 0.38, QQQ and XHR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 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.
Use this data
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[](https://www.pairbook.io/pair/qqq-vs-xhr/)
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Related comparisons
Hubs: QQQ correlations · XHR correlations
