PAGP vs QQQ: Correlation
Measured on weekly returns over the past three years, Plains GP Holdings, L.P. - Class A Shares representing (PAGP) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAGP and QQQ?
Over the past 3 years, PAGP and QQQ moved with a correlation of 0.04, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus 0.04 over 3 years. Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is 18.2 %².
Out of 14 assets tracked against PAGP, QQQ lands near the bottom at #11. The last year tells two different stories: PAGP led by 32.6 percentage points, +58.9% for PAGP against +26.3% for QQQ.
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.
PAGP vs QQQ: side by side
| PAGP (Plains GP Holdings, L.P. - Class A Shares representing) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +58.9% | +26.3% |
| 5-year return | +318.4% | +95.4% |
| Volatility (ann.) | 23.3% | 19.6% |
| Beta vs S&P 500 | 0.25 | 1.28 |
| Max drawdown (3Y) | -21.0% | -22.8% |
| Market cap | $6.5B | – |
| P/E (trailing) | 80.1 | – |
| Dividend yield | 5.81% | 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 | PAGP | QQQ |
|---|---|---|
| 2022 | +31.8% | -32.6% |
| 2023 | +38.1% | +54.9% |
| 2024 | +23.7% | +25.6% |
| 2025 | +12.7% | +20.8% |
| 2026 | +54.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAGP and QQQ good diversifiers for each other?
Yes. With a correlation of 0.04, PAGP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PAGP and QQQ?
As of 2026-08-27, the correlation of weekly returns between PAGP and QQQ is 0.04 over 3 years, -0.36 over 1 year and 0.16 over 5 years.
Is QQQ a good diversifier for PAGP?
Yes. With a correlation of 0.04, PAGP and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
On the −1 to +1 scale, 0.04 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
$ curl https://www.pairbook.io/api/v1/pairs/pagp-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pagp-vs-qqq/)
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Related comparisons
Hubs: PAGP correlations · QQQ correlations
