PDYN vs QQQ: Correlation
Measured on weekly returns over the past three years, Palladyne AI Corp. (PDYN) and Invesco QQQ Trust (QQQ) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDYN and QQQ?
Over the past 3 years, PDYN and QQQ moved with a correlation of 0.25, which is weak. The link has tightened recently: the 1-year correlation (0.48) runs above the 3-year figure (0.25). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 987.0 %².
QQQ is close to the least connected end of PDYN's tracked universe, ranking #13 of 17. Correlation aside, the last 12 months split them widely, with QQQ ahead by 48.2 points (-21.9% versus +26.3%). Note the risk asymmetry: PDYN runs 10.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PDYN vs QQQ: side by side
| PDYN (Palladyne AI Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -21.9% | +26.3% |
| 5-year return | -88.8% | +95.4% |
| Volatility (ann.) | 204.5% | 19.6% |
| Beta vs S&P 500 | 3.45 | 1.28 |
| Max drawdown (3Y) | -68.8% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | PDYN | QQQ |
|---|---|---|
| 2022 | -94.4% | -32.6% |
| 2023 | -78.6% | +54.9% |
| 2024 | +1601.8% | +25.6% |
| 2025 | -65.3% | +20.8% |
| 2026 | +43.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDYN and QQQ good diversifiers for each other?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PDYN and QQQ?
Using weekly returns as of 2026-08-27: 0.25 over 3 years, with 0.48 over the last year and 0.26 over 5 years.
Is QQQ a good diversifier for PDYN?
A fair diversifier. At 0.25, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.25 mean?
A reading of 0.25 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/pdyn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pdyn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PDYN correlations · QQQ correlations
