PBT vs QQQ: Correlation
How closely do Permian Basin Royalty Trust (PBT) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.13, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBT and QQQ?
Across a 3-year window, the weekly returns of PBT and QQQ correlate at 0.13, weak. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.13 over 3 years. Stretching to 5 years gives 0.08, with an annualized covariance of 98.2 %².
Out of 11 assets tracked against PBT, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with PBT ahead by 82.1 points (+108.4% versus +26.3%). One caveat on sizing: PBT is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PBT vs QQQ: side by side
| PBT (Permian Basin Royalty Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +108.4% | +26.3% |
| 5-year return | +669.6% | +95.4% |
| Volatility (ann.) | 39.6% | 19.6% |
| Beta vs S&P 500 | 0.48 | 1.28 |
| Max drawdown (3Y) | -57.6% | -22.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 96.2 | – |
| Dividend yield | 0.81% | 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 | PBT | QQQ |
|---|---|---|
| 2022 | +166.2% | -32.6% |
| 2023 | -42.8% | +54.9% |
| 2024 | -16.9% | +25.6% |
| 2025 | +56.6% | +20.8% |
| 2026 | +100.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBT and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, PBT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PBT and QQQ?
As of 2026-08-27, the correlation of weekly returns between PBT and QQQ is 0.13 over 3 years, -0.10 over 1 year and 0.08 over 5 years.
Is QQQ a good diversifier for PBT?
Yes. With a correlation of 0.13, PBT and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 mean?
A reading of 0.13 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pbt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pbt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PBT correlations · QQQ correlations
