PAG vs QQQ: Correlation
How closely do Penske Automotive Group, Inc. (PAG) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAG and QQQ?
Over the past 3 years, PAG and QQQ moved with a correlation of 0.27, which is weak. The past 12 months show a weaker link (0.06) than the 3-year average (0.27). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 136.9 %².
Out of 12 assets tracked against PAG, QQQ lands near the bottom at #8. The trailing year gives QQQ the advantage: +19.5% versus +26.3%, a 6.8-point spread.
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.
PAG vs QQQ: side by side
| PAG (Penske Automotive Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +19.5% | +26.3% |
| 5-year return | +177.2% | +95.4% |
| Volatility (ann.) | 26.3% | 19.6% |
| Beta vs S&P 500 | 0.66 | 1.28 |
| Max drawdown (3Y) | -24.0% | -22.8% |
| Market cap | $14.3B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 2.60% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
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 | PAG | QQQ |
|---|---|---|
| 2022 | +9.2% | -32.6% |
| 2023 | +42.3% | +54.9% |
| 2024 | -2.5% | +25.6% |
| 2025 | +7.1% | +20.8% |
| 2026 | +41.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAG and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PAG and QQQ?
The PAG/QQQ correlation stands at 0.27 on a 3-year window (1 year: 0.06, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PAG?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 mean?
On the −1 to +1 scale, 0.27 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: PAG correlations · QQQ correlations
