PAYO vs QQQ: Correlation
How closely do Payoneer Global Inc. (PAYO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYO and QQQ?
On 3 years of weekly data the PAYO/QQQ correlation comes out at 0.36, moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.36). The 5-year figure is 0.35, and annualized covariance runs at 341.1 %².
QQQ is close to the least connected end of PAYO's tracked universe, ranking #11 of 14. The last year tells two different stories: QQQ led by 21.3 percentage points, +5.0% for PAYO against +26.3% for QQQ. Risk is not evenly split, since PAYO carries 2.5 times the volatility of the other side.
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.
PAYO vs QQQ: side by side
| PAYO (Payoneer Global Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.0% | +26.3% |
| 5-year return | -27.7% | +95.4% |
| Volatility (ann.) | 48.1% | 19.6% |
| Beta vs S&P 500 | 1.27 | 1.28 |
| Max drawdown (3Y) | -61.4% | -22.8% |
| Market cap | $2.4B | – |
| P/E (trailing) | 50.9 | – |
| 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 | PAYO | QQQ |
|---|---|---|
| 2022 | -25.6% | -32.6% |
| 2023 | -4.8% | +54.9% |
| 2024 | +92.7% | +25.6% |
| 2025 | -44.0% | +20.8% |
| 2026 | +26.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAYO and QQQ good diversifiers for each other?
Reasonably. At 0.36, PAYO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PAYO and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.23 over the last year and 0.35 over 5 years.
Is QQQ a good diversifier for PAYO?
Reasonably. At 0.36, PAYO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/payo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/payo-vs-qqq/)
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Related comparisons
Hubs: PAYO correlations · QQQ correlations
