PBHC vs QQQ: Correlation
Measured on weekly returns over the past three years, Pathfinder Bancorp, Inc. (PBHC) and Invesco QQQ Trust (QQQ) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBHC and QQQ?
On 3 years of weekly data the PBHC/QQQ correlation comes out at -0.01, near zero, meaning they move largely independently. The past 12 months show a tighter link (0.16) than the 3-year average (-0.01). The 5-year figure is 0.02, and annualized covariance runs at -6.8 %².
By 3-year correlation, QQQ places #6 of the 14 assets tracked against PBHC. The trailing year gives QQQ the advantage: +12.4% versus +26.3%, a 13.9-point spread.
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.
PBHC vs QQQ: side by side
| PBHC (Pathfinder Bancorp, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +12.4% | +26.3% |
| 5-year return | +13.4% | +95.4% |
| Volatility (ann.) | 27.4% | 19.6% |
| Beta vs S&P 500 | -0.02 | 1.28 |
| Max drawdown (3Y) | -33.6% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1632.0 | – |
| Dividend yield | 2.42% | 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 | PBHC | QQQ |
|---|---|---|
| 2022 | +13.5% | -32.6% |
| 2023 | -25.1% | +54.9% |
| 2024 | +28.5% | +25.6% |
| 2025 | -17.3% | +20.8% |
| 2026 | +18.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBHC and QQQ good diversifiers for each other?
Yes: at -0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PBHC and QQQ?
The PBHC/QQQ correlation stands at -0.01 on a 3-year window (1 year: 0.16, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PBHC?
Yes: at -0.01, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.01 mean?
A reading of -0.01 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: PBHC correlations · QQQ correlations
