PHUN vs QQQ: Correlation
Phunware, Inc. (PHUN) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHUN and QQQ?
Over the past 3 years, PHUN and QQQ moved with a correlation of 0.16, which is weak. The link has tightened recently: the 1-year correlation (0.39) runs above the 3-year figure (0.16). Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is 518.1 %².
Out of 13 assets tracked against PHUN, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 46.4 percentage points, -20.1% for PHUN against +26.3% for QQQ. Note the risk asymmetry: PHUN runs 8.3 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.
PHUN vs QQQ: side by side
| PHUN (Phunware, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -20.1% | +26.3% |
| 5-year return | -96.0% | +95.4% |
| Volatility (ann.) | 162.6% | 19.6% |
| Beta vs S&P 500 | 1.61 | 1.28 |
| Max drawdown (3Y) | -92.6% | -22.8% |
| Market cap | – | – |
| 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 | PHUN | QQQ |
|---|---|---|
| 2022 | -70.6% | -32.6% |
| 2023 | -89.4% | +54.9% |
| 2024 | +26.8% | +25.6% |
| 2025 | -64.4% | +20.8% |
| 2026 | +14.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHUN and QQQ good diversifiers for each other?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PHUN and QQQ?
As of 2026-08-27, the correlation of weekly returns between PHUN and QQQ is 0.16 over 3 years, 0.39 over 1 year and 0.10 over 5 years.
Is QQQ a good diversifier for PHUN?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.16 mean?
A reading of 0.16 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/phun-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/phun-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PHUN correlations · QQQ correlations
