PTLO vs QQQ: Correlation
How closely do Portillo's Inc. (PTLO) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.16, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTLO and QQQ?
On 3 years of weekly data the PTLO/QQQ correlation comes out at 0.16, weak. The past 12 months show a weaker link (-0.02) than the 3-year average (0.16). The 5-year figure is 0.34, and annualized covariance runs at 166.1 %².
Out of 11 assets tracked against PTLO, QQQ lands near the bottom at #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 62.3 points (-36.0% versus +26.3%). Note the risk asymmetry: PTLO runs 2.7 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.
PTLO vs QQQ: side by side
| PTLO (Portillo's Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -36.0% | +26.3% |
| 5-year return | -84.6% | +95.4% |
| Volatility (ann.) | 52.1% | 19.6% |
| Beta vs S&P 500 | 0.82 | 1.28 |
| Max drawdown (3Y) | -79.5% | -22.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 24.9 | – |
| 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 | PTLO | QQQ |
|---|---|---|
| 2022 | -56.5% | -32.6% |
| 2023 | -2.4% | +54.9% |
| 2024 | -41.0% | +25.6% |
| 2025 | -51.7% | +20.8% |
| 2026 | -1.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTLO and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between PTLO and QQQ?
As of 2026-08-27, the correlation of weekly returns between PTLO and QQQ is 0.16 over 3 years, -0.02 over 1 year and 0.34 over 5 years.
Is QQQ a good diversifier for PTLO?
By historical standards, yes. A correlation of 0.16 means the two rarely move for the same reasons.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 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.
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Related comparisons
Hubs: PTLO correlations · QQQ correlations
