Google did some experiments on measurable ways to do interviews (puzzles, etc.) and found no effect on hire quality.

But they only hire at the top, so one would expect the subsequent performance of their hires to be little correlated with any sort of interview assessments.

Toy example: 0.8 correlation between two variables, select on one at 3 or more s.d.s above the mean, correlation within that subpopulation is around 0.2 to 0.45 (it varies a lot, even in a sample of 100000).