PCAR vs QQQ: Correlation
Paccar (PCAR) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCAR and QQQ?
On 3 years of weekly data the PCAR/QQQ correlation comes out at 0.34, moderate. The link has loosened recently: the 1-year correlation (0.02) runs below the 3-year figure (0.34). The 5-year figure is 0.40, and annualized covariance runs at 159.5 %².
Among the 27 assets we track against PCAR, QQQ ranks #17 by 3-year correlation. Twelve-month performance is nearly a tie, at +27.8% for PCAR and +26.3% for QQQ. This link changes with the market regime, having swung between 0.03 and 0.53 on a rolling one-year basis.
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.
PCAR vs QQQ: side by side
| PCAR (Paccar) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +27.8% | +26.3% |
| 5-year return | +177.9% | +95.4% |
| Volatility (ann.) | 24.1% | 19.6% |
| Beta vs S&P 500 | 0.74 | 1.28 |
| Max drawdown (3Y) | -27.7% | -22.8% |
| Market cap | $66.6B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 1.04% | 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 | PCAR | QQQ |
|---|---|---|
| 2022 | +17.0% | -32.6% |
| 2023 | +55.0% | +54.9% |
| 2024 | +10.8% | +25.6% |
| 2025 | +8.0% | +20.8% |
| 2026 | +16.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
PCAR represents 0.3% of QQQ's portfolio, so part of any move in QQQ is PCAR itself, and the correlation between them is partly mechanical.
Are PCAR and QQQ good diversifiers for each other?
Reasonably. At 0.34, PCAR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PCAR and QQQ?
As of 2026-08-27, the correlation of weekly returns between PCAR and QQQ is 0.34 over 3 years, 0.02 over 1 year and 0.40 over 5 years.
Is QQQ a good diversifier for PCAR?
Reasonably. At 0.34, PCAR and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/pcar-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pcar-vs-qqq/)
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Related comparisons
Hubs: PCAR correlations · QQQ correlations
