PLMR vs QQQ: Correlation
How closely do Palomar Holdings, Inc. (PLMR) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.03, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLMR and QQQ?
Over the past 3 years, PLMR and QQQ moved with a correlation of 0.03, which is near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.25 versus 0.03 over 3 years. Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 18.6 %².
Among the 15 assets we track against PLMR, QQQ ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 21.3 percentage points (+5.0% for PLMR against +26.3% for QQQ). One caveat on sizing: PLMR is 1.8 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.
PLMR vs QQQ: side by side
| PLMR (Palomar Holdings, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.0% | +26.3% |
| 5-year return | +44.4% | +95.4% |
| Volatility (ann.) | 35.9% | 19.6% |
| Beta vs S&P 500 | 0.34 | 1.28 |
| Max drawdown (3Y) | -42.3% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 17.7 | – |
| 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 | PLMR | QQQ |
|---|---|---|
| 2022 | -30.3% | -32.6% |
| 2023 | +22.9% | +54.9% |
| 2024 | +90.3% | +25.6% |
| 2025 | +27.6% | +20.8% |
| 2026 | -3.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLMR and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
FAQ
What is the correlation between PLMR and QQQ?
The PLMR/QQQ correlation stands at 0.03 on a 3-year window (1 year: -0.25, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PLMR?
By historical standards, yes. A correlation of 0.03 means the two rarely move for the same reasons.
What does a correlation of 0.03 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.
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Related comparisons
Hubs: PLMR correlations · QQQ correlations
