PMT vs QQQ: Correlation
PennyMac Mortgage Investment Trust (PMT) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMT and QQQ?
Over the past 3 years, PMT and QQQ moved with a correlation of 0.18, which is weak. The past 12 months show a weaker link (0.07) than the 3-year average (0.18). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 91.1 %².
Among the 11 assets we track against PMT, QQQ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with QQQ ahead by 38.1 points (-11.8% versus +26.3%).
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.
PMT vs QQQ: side by side
| PMT (PennyMac Mortgage Investment Trust) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -11.8% | +26.3% |
| 5-year return | -9.4% | +95.4% |
| Volatility (ann.) | 25.8% | 19.6% |
| Beta vs S&P 500 | 0.49 | 1.28 |
| Max drawdown (3Y) | -28.1% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 17.33% | 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 | PMT | QQQ |
|---|---|---|
| 2022 | -18.1% | -32.6% |
| 2023 | +36.1% | +54.9% |
| 2024 | -5.4% | +25.6% |
| 2025 | +13.2% | +20.8% |
| 2026 | -20.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMT and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between PMT and QQQ?
Using weekly returns as of 2026-08-27: 0.18 over 3 years, with 0.07 over the last year and 0.35 over 5 years.
Is QQQ a good diversifier for PMT?
By historical standards, yes. A correlation of 0.18 means the two rarely move for the same reasons.
What does a correlation of 0.18 mean?
On the −1 to +1 scale, 0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pmt-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pmt-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PMT correlations · QQQ correlations
