PNFP vs QQQ: Correlation
How closely do Pinnacle Financial Partners, Inc. (PNFP) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNFP and QQQ?
Across a 3-year window, the weekly returns of PNFP and QQQ correlate at 0.36, moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.36). Stretching to 5 years gives 0.38, with an annualized covariance of 250.4 %².
QQQ is close to the least connected end of PNFP's tracked universe, ranking #10 of 14. The last year tells two different stories: QQQ led by 19.9 percentage points, +6.4% for PNFP against +26.3% for QQQ. One caveat on sizing: PNFP 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.
PNFP vs QQQ: side by side
| PNFP (Pinnacle Financial Partners, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +6.4% | +26.3% |
| 5-year return | +12.0% | +95.4% |
| Volatility (ann.) | 35.3% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -35.8% | -22.8% |
| Market cap | $15.3B | – |
| P/E (trailing) | 13.9 | – |
| Dividend yield | 1.46% | 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 | PNFP | QQQ |
|---|---|---|
| 2022 | -22.3% | -32.6% |
| 2023 | +20.5% | +54.9% |
| 2024 | +32.4% | +25.6% |
| 2025 | -15.8% | +20.8% |
| 2026 | +7.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNFP and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PNFP and QQQ?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.22 over the last year and 0.38 over 5 years.
Is QQQ a good diversifier for PNFP?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
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
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[](https://www.pairbook.io/pair/pnfp-vs-qqq/)
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Related comparisons
Hubs: PNFP correlations · QQQ correlations
