PTEN vs QQQ: Correlation
Patterson-UTI Energy, Inc. (PTEN) and Invesco QQQ Trust (QQQ) show a near-zero relationship: their 3-year correlation of weekly returns is 0.09.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTEN and QQQ?
Across a 3-year window, the weekly returns of PTEN and QQQ correlate at 0.09, near zero, meaning they move largely independently. Lately the two have drifted apart, with the 1-year correlation at -0.20 versus 0.09 over 3 years. Stretching to 5 years gives 0.17, with an annualized covariance of 84.2 %².
Out of 23 assets tracked against PTEN, QQQ lands near the bottom at #20. Correlation aside, the last 12 months split them widely, with PTEN ahead by 99.1 points (+125.4% versus +26.3%). Note the risk asymmetry: PTEN runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PTEN vs QQQ: side by side
| PTEN (Patterson-UTI Energy, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +125.4% | +26.3% |
| 5-year return | +84.8% | +95.4% |
| Volatility (ann.) | 48.6% | 19.6% |
| Beta vs S&P 500 | 0.60 | 1.28 |
| Max drawdown (3Y) | -64.6% | -22.8% |
| Market cap | $4.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.06% | 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 | PTEN | QQQ |
|---|---|---|
| 2022 | +101.7% | -32.6% |
| 2023 | -34.2% | +54.9% |
| 2024 | -21.0% | +25.6% |
| 2025 | -22.1% | +20.8% |
| 2026 | +104.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTEN and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
FAQ
What is the correlation between PTEN and QQQ?
The PTEN/QQQ correlation stands at 0.09 on a 3-year window (1 year: -0.20, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PTEN?
By historical standards, yes. A correlation of 0.09 means the two rarely move for the same reasons.
What does a correlation of 0.09 mean?
On the −1 to +1 scale, 0.09 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/pten-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pten-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PTEN correlations · QQQ correlations
