PDT vs QQQ: Correlation
Measured on weekly returns over the past three years, John Hancock Premium Dividend Fund (PDT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDT and QQQ?
On 3 years of weekly data the PDT/QQQ correlation comes out at 0.33, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.33). The 5-year figure is 0.41, and annualized covariance runs at 102.0 %².
Out of 12 assets tracked against PDT, QQQ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.0 points (+1.3% versus +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.
PDT vs QQQ: side by side
| PDT (John Hancock Premium Dividend Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +1.3% | +26.3% |
| 5-year return | +12.6% | +95.4% |
| Volatility (ann.) | 15.8% | 19.6% |
| Beta vs S&P 500 | 0.52 | 1.28 |
| Max drawdown (3Y) | -11.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 7.83% | 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 | PDT | QQQ |
|---|---|---|
| 2022 | -16.3% | -32.6% |
| 2023 | -9.5% | +54.9% |
| 2024 | +30.0% | +25.6% |
| 2025 | +7.7% | +20.8% |
| 2026 | +4.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDT and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PDT and QQQ?
The PDT/QQQ correlation stands at 0.33 on a 3-year window (1 year: 0.21, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PDT?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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.
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Related comparisons
Hubs: PDT correlations · QQQ correlations
