PNNT vs QQQ: Correlation
Measured on weekly returns over the past three years, PennantPark Investment Corporation (PNNT) and Invesco QQQ Trust (QQQ) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNNT and QQQ?
Over the past 3 years, PNNT and QQQ moved with a correlation of 0.34, which is moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.34 over 3. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 144.7 %².
Among the 12 assets we track against PNNT, QQQ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: QQQ led by 62.7 percentage points, -36.4% for PNNT against +26.3% for QQQ.
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.
PNNT vs QQQ: side by side
| PNNT (PennantPark Investment Corporation) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -36.4% | +26.3% |
| 5-year return | +13.8% | +95.4% |
| Volatility (ann.) | 21.6% | 19.6% |
| Beta vs S&P 500 | 0.61 | 1.28 |
| Max drawdown (3Y) | -47.6% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 21.28% | 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 | PNNT | QQQ |
|---|---|---|
| 2022 | -8.9% | -32.6% |
| 2023 | +37.3% | +54.9% |
| 2024 | +16.6% | +25.6% |
| 2025 | -3.0% | +20.8% |
| 2026 | -27.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNNT and QQQ good diversifiers for each other?
Reasonably. At 0.34, PNNT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PNNT and QQQ?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.31 over the last year and 0.40 over 5 years.
Is QQQ a good diversifier for PNNT?
Reasonably. At 0.34, PNNT and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: PNNT correlations · QQQ correlations
