PENG vs QQQ: Correlation
Penguin Solutions, Inc. (PENG) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PENG and QQQ?
Over the past 3 years, PENG and QQQ moved with a correlation of 0.57, which is moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.57). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 803.9 %².
Out of 10 assets tracked against PENG, QQQ lands near the bottom at #6. The last year tells two different stories: PENG led by 89.9 percentage points, +116.2% for PENG against +26.3% for QQQ. Risk is not evenly split, since PENG carries 3.6 times the volatility of the other side.
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.
PENG vs QQQ: side by side
| PENG (Penguin Solutions, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +116.2% | +26.3% |
| 5-year return | +118.5% | +95.4% |
| Volatility (ann.) | 71.5% | 19.6% |
| Beta vs S&P 500 | 2.57 | 1.28 |
| Max drawdown (3Y) | -50.5% | -22.8% |
| Market cap | $2.7B | – |
| P/E (trailing) | 37.2 | – |
| 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 | PENG | QQQ |
|---|---|---|
| 2022 | -58.1% | -32.6% |
| 2023 | +27.2% | +54.9% |
| 2024 | +1.4% | +25.6% |
| 2025 | +1.9% | +20.8% |
| 2026 | +168.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PENG and QQQ good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PENG and QQQ?
As of 2026-08-27, the correlation of weekly returns between PENG and QQQ is 0.57 over 3 years, 0.69 over 1 year and 0.58 over 5 years.
Is QQQ a good diversifier for PENG?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/peng-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/peng-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PENG correlations · QQQ correlations
