PBA vs QQQ: Correlation
Pembina Pipeline Corp. (PBA) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is -0.07.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBA and QQQ?
Across a 3-year window, the weekly returns of PBA and QQQ correlate at -0.07, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.07). Stretching to 5 years gives 0.13, with an annualized covariance of -28.5 %².
By 3-year correlation, QQQ places #8 of the 13 assets tracked against PBA. Over the last 12 months PBA came out ahead by 5.1 percentage points (+31.4% against +26.3%).
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.
PBA vs QQQ: side by side
| PBA (Pembina Pipeline Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +31.4% | +26.3% |
| 5-year return | +98.2% | +95.4% |
| Volatility (ann.) | 20.0% | 19.6% |
| Beta vs S&P 500 | 0.08 | 1.28 |
| Max drawdown (3Y) | -17.9% | -22.8% |
| Market cap | $28.1B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 5.93% | 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 | PBA | QQQ |
|---|---|---|
| 2022 | +18.3% | -32.6% |
| 2023 | +7.8% | +54.9% |
| 2024 | +13.2% | +25.6% |
| 2025 | +5.7% | +20.8% |
| 2026 | +30.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBA and QQQ good diversifiers for each other?
Yes. With a correlation of -0.07, PBA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PBA and QQQ?
The PBA/QQQ correlation stands at -0.07 on a 3-year window (1 year: -0.31, 5 years: 0.13), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PBA?
Yes. With a correlation of -0.07, PBA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.07 mean?
On the −1 to +1 scale, -0.07 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/pba-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pba-vs-qqq/)
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Related comparisons
Hubs: PBA correlations · QQQ correlations
