PAYX vs QQQ: Correlation
Paychex (PAYX) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYX and QQQ?
Over the past 3 years, PAYX and QQQ moved with a correlation of 0.24, which is weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.24). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 99.5 %².
Within PAYX's tracked universe of 37 assets, QQQ comes in at #27 by 3-year correlation. The last year tells two different stories: QQQ led by 31.1 percentage points, -4.8% for PAYX against +26.3% for QQQ. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.02 to 0.69.
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.
PAYX vs QQQ: side by side
| PAYX (Paychex) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -4.8% | +26.3% |
| 5-year return | +29.0% | +95.4% |
| Volatility (ann.) | 21.3% | 19.6% |
| Beta vs S&P 500 | 0.47 | 1.28 |
| Max drawdown (3Y) | -45.0% | -22.8% |
| Market cap | $45.0B | – |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Industrials | 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 | PAYX | QQQ |
|---|---|---|
| 2022 | -13.2% | -32.6% |
| 2023 | +6.2% | +54.9% |
| 2024 | +21.3% | +25.6% |
| 2025 | -17.5% | +20.8% |
| 2026 | +16.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
PAYX represents 0.2% of QQQ's portfolio, so part of any move in QQQ is PAYX itself, and the correlation between them is partly mechanical.
Are PAYX and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PAYX and QQQ?
The PAYX/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.02, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PAYX?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/payx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/payx-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAYX correlations · QQQ correlations
