PGY vs QQQ: Correlation
Measured on weekly returns over the past three years, Pagaya Technologies Ltd. - Class A (PGY) and Invesco QQQ Trust (QQQ) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGY and QQQ?
On 3 years of weekly data the PGY/QQQ correlation comes out at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.27, and annualized covariance runs at 666.5 %².
Among the 11 assets we track against PGY, QQQ sits near the bottom by co-movement, at rank #7. The last year tells two different stories: QQQ led by 59.3 percentage points, -33.0% for PGY against +26.3% for QQQ. Risk is not evenly split, since PGY carries 4.4 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.
PGY vs QQQ: side by side
| PGY (Pagaya Technologies Ltd. - Class A) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -33.0% | +26.3% |
| 5-year return | -79.9% | +95.4% |
| Volatility (ann.) | 86.1% | 19.6% |
| Beta vs S&P 500 | 2.49 | 1.28 |
| Max drawdown (3Y) | -75.7% | -22.8% |
| Market cap | $1.9B | – |
| P/E (trailing) | 15.9 | – |
| 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 | PGY | QQQ |
|---|---|---|
| 2022 | -87.5% | -32.6% |
| 2023 | +11.3% | +54.9% |
| 2024 | -43.9% | +25.6% |
| 2025 | +125.0% | +20.8% |
| 2026 | +11.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGY and QQQ good diversifiers for each other?
Reasonably. At 0.40, PGY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PGY and QQQ?
As of 2026-08-27, the correlation of weekly returns between PGY and QQQ is 0.40 over 3 years, 0.50 over 1 year and 0.27 over 5 years.
Is QQQ a good diversifier for PGY?
Reasonably. At 0.40, PGY and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/pgy-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pgy-vs-qqq/)
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Related comparisons
Hubs: PGY correlations · QQQ correlations
