PIPR vs QQQ: Correlation
Piper Sandler Companies (PIPR) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIPR and QQQ?
Over the past 3 years, PIPR and QQQ moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 312.4 %².
By 3-year correlation, QQQ places #17 of the 23 assets tracked against PIPR. The last year tells two different stories: QQQ led by 35.5 percentage points, -9.2% for PIPR against +26.3% for QQQ. Risk is not evenly split, since PIPR carries 1.7 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.
PIPR vs QQQ: side by side
| PIPR (Piper Sandler Companies) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -9.2% | +26.3% |
| 5-year return | +143.0% | +95.4% |
| Volatility (ann.) | 33.6% | 19.6% |
| Beta vs S&P 500 | 1.35 | 1.28 |
| Max drawdown (3Y) | -38.8% | -22.8% |
| Market cap | $5.3B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.97% | 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 | PIPR | QQQ |
|---|---|---|
| 2022 | -23.4% | -32.6% |
| 2023 | +37.8% | +54.9% |
| 2024 | +74.2% | +25.6% |
| 2025 | +15.5% | +20.8% |
| 2026 | -10.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIPR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PIPR and QQQ?
The PIPR/QQQ correlation stands at 0.48 on a 3-year window (1 year: 0.31, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PIPR?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/pipr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pipr-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PIPR correlations · QQQ correlations
