PL vs QQQ: Correlation
Measured on weekly returns over the past three years, Planet Labs PBC (PL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PL and QQQ?
On 3 years of weekly data the PL/QQQ correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 635.5 %².
Among the 10 assets we track against PL, QQQ sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months PL outperformed by 172.6 percentage points (+198.9% for PL against +26.3% for QQQ). One caveat on sizing: PL is 4.6 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.
PL vs QQQ: side by side
| PL (Planet Labs PBC) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +198.9% | +26.3% |
| 5-year return | +114.4% | +95.4% |
| Volatility (ann.) | 89.7% | 19.6% |
| Beta vs S&P 500 | 2.46 | 1.28 |
| Max drawdown (3Y) | -62.1% | -22.8% |
| Market cap | $7.5B | – |
| 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 | PL | QQQ |
|---|---|---|
| 2022 | -29.3% | -32.6% |
| 2023 | -43.2% | +54.9% |
| 2024 | +63.6% | +25.6% |
| 2025 | +388.1% | +20.8% |
| 2026 | +7.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PL and QQQ good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PL and QQQ?
As of 2026-08-27, the correlation of weekly returns between PL and QQQ is 0.36 over 3 years, 0.26 over 1 year and 0.38 over 5 years.
Is QQQ a good diversifier for PL?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/pl-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pl-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PL correlations · QQQ correlations
