PANL vs QQQ: Correlation
Measured on weekly returns over the past three years, Pangaea Logistics Solutions Ltd. (PANL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.27, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PANL and QQQ?
Across a 3-year window, the weekly returns of PANL and QQQ correlate at 0.27, weak. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.27 over 3 years. Stretching to 5 years gives 0.20, with an annualized covariance of 225.8 %².
Among the 11 assets we track against PANL, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: PANL led by 23.4 percentage points, +49.7% for PANL against +26.3% for QQQ. Note the risk asymmetry: PANL runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PANL vs QQQ: side by side
| PANL (Pangaea Logistics Solutions Ltd.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +49.7% | +26.3% |
| 5-year return | +109.8% | +95.4% |
| Volatility (ann.) | 42.2% | 19.6% |
| Beta vs S&P 500 | 0.96 | 1.28 |
| Max drawdown (3Y) | -54.8% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 2.53% | 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 | PANL | QQQ |
|---|---|---|
| 2022 | +44.2% | -32.6% |
| 2023 | +70.6% | +54.9% |
| 2024 | -31.1% | +25.6% |
| 2025 | +34.6% | +20.8% |
| 2026 | +16.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PANL and QQQ good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PANL and QQQ?
As of 2026-08-27, the correlation of weekly returns between PANL and QQQ is 0.27 over 3 years, 0.10 over 1 year and 0.20 over 5 years.
Is QQQ a good diversifier for PANL?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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
$ curl https://www.pairbook.io/api/v1/pairs/panl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/panl-vs-qqq/)
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Related comparisons
Hubs: PANL correlations · QQQ correlations
