PAXS vs QQQ: Correlation
How closely do PIMCO Access Income Fund (PAXS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAXS and QQQ?
Over the past 3 years, PAXS and QQQ moved with a correlation of 0.38, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 108.7 %².
Out of 10 assets tracked against PAXS, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 26.6 percentage points (-0.3% for PAXS 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.
PAXS vs QQQ: side by side
| PAXS (PIMCO Access Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -0.3% | +26.3% |
| 5-year return | +20.5% | +95.4% |
| Volatility (ann.) | 14.6% | 19.6% |
| Beta vs S&P 500 | 0.48 | 1.28 |
| Max drawdown (3Y) | -13.4% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 0.00% | 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 | PAXS | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +9.3% | +54.9% |
| 2024 | +19.5% | +25.6% |
| 2025 | +12.5% | +20.8% |
| 2026 | +0.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAXS and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PAXS and QQQ?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.48 over the last year and 0.38 over 5 years.
Is QQQ a good diversifier for PAXS?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PAXS correlations · QQQ correlations
