PKOH vs QQQ: Correlation
How closely do Park-Ohio Holdings Corp. (PKOH) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PKOH and QQQ?
Over the past 3 years, PKOH and QQQ moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 318.5 %².
Within PKOH's tracked universe of 13 assets, QQQ comes in at #8 by 3-year correlation. The last year tells two different stories: PKOH led by 119.7 percentage points, +146.0% for PKOH against +26.3% for QQQ. One caveat on sizing: PKOH is 2.2 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.
PKOH vs QQQ: side by side
| PKOH (Park-Ohio Holdings Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +146.0% | +26.3% |
| 5-year return | +101.4% | +95.4% |
| Volatility (ann.) | 43.9% | 19.6% |
| Beta vs S&P 500 | 1.33 | 1.28 |
| Max drawdown (3Y) | -52.5% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 24.6 | – |
| Dividend yield | 1.09% | 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 | PKOH | QQQ |
|---|---|---|
| 2022 | -40.3% | -32.6% |
| 2023 | +127.1% | +54.9% |
| 2024 | -0.8% | +25.6% |
| 2025 | -18.3% | +20.8% |
| 2026 | +129.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PKOH and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PKOH and QQQ?
As of 2026-08-27, the correlation of weekly returns between PKOH and QQQ is 0.37 over 3 years, 0.39 over 1 year and 0.32 over 5 years.
Is QQQ a good diversifier for PKOH?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PKOH correlations · QQQ correlations
