PHK vs QQQ: Correlation
Pimco High Income Fund (PHK) 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 PHK and QQQ?
Across a 3-year window, the weekly returns of PHK and QQQ correlate at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.34 over 3 years. Stretching to 5 years gives 0.43, with an annualized covariance of 78.1 %².
Out of 11 assets tracked against PHK, QQQ lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 21.7 percentage points (+4.6% for PHK against +26.3% for QQQ). One caveat on sizing: QQQ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PHK vs QQQ: side by side
| PHK (Pimco High Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +4.6% | +26.3% |
| 5-year return | +18.6% | +95.4% |
| Volatility (ann.) | 11.8% | 19.6% |
| Beta vs S&P 500 | 0.36 | 1.28 |
| Max drawdown (3Y) | -14.5% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 9.0 | – |
| Dividend yield | 12.74% | 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 | PHK | QQQ |
|---|---|---|
| 2022 | -14.4% | -32.6% |
| 2023 | +18.8% | +54.9% |
| 2024 | +9.5% | +25.6% |
| 2025 | +12.6% | +20.8% |
| 2026 | +2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHK and QQQ good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PHK and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.22 over the last year and 0.43 over 5 years.
Is QQQ a good diversifier for PHK?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 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
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[](https://www.pairbook.io/pair/phk-vs-qqq/)
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Related comparisons
Hubs: PHK correlations · QQQ correlations
