PVLA vs QQQ: Correlation
Measured on weekly returns over the past three years, Palvella Therapeutics, Inc. (PVLA) and Invesco QQQ Trust (QQQ) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PVLA and QQQ?
Over the past 3 years, PVLA and QQQ moved with a correlation of -0.01, which is near zero, meaning they move largely independently. Recent behaviour matches the longer record: 0.01 over 1 year against -0.01 over 3. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is -29.3 %².
Within PVLA's tracked universe of 16 assets, QQQ comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PVLA ahead by 140.0 points (+166.3% versus +26.3%). Risk is not evenly split, since PVLA carries 5.4 times the volatility of the other side.
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.
PVLA vs QQQ: side by side
| PVLA (Palvella Therapeutics, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +166.3% | +26.3% |
| 5-year return | -62.3% | +95.4% |
| Volatility (ann.) | 105.3% | 19.6% |
| Beta vs S&P 500 | 0.24 | 1.28 |
| Max drawdown (3Y) | -77.6% | -22.8% |
| Market cap | $2.2B | – |
| P/E (trailing) | – | – |
| 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 | PVLA | QQQ |
|---|---|---|
| 2022 | -72.5% | -32.6% |
| 2023 | -82.5% | +54.9% |
| 2024 | -17.6% | +25.6% |
| 2025 | +772.2% | +20.8% |
| 2026 | +43.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PVLA and QQQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between PVLA and QQQ?
As of 2026-08-27, the correlation of weekly returns between PVLA and QQQ is -0.01 over 3 years, 0.01 over 1 year and 0.08 over 5 years.
Is QQQ a good diversifier for PVLA?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
What does a correlation of -0.01 mean?
A reading of -0.01 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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Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: PVLA correlations · QQQ correlations
