PW vs QQQ: Correlation
How closely do Power REIT (MD) (PW) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.05, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PW and QQQ?
Over the past 3 years, PW and QQQ moved with a correlation of 0.05, which is near zero, meaning they move largely independently. The relationship has been stable: the 1-year correlation (0.11) sits close to the 3-year figure. Over 5 years the correlation is 0.12, and the annualized covariance of weekly returns is 109.2 %².
Among the 10 assets we track against PW, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 79.1 points (-52.8% versus +26.3%). Note the risk asymmetry: PW runs 6.3 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.
PW vs QQQ: side by side
| PW (Power REIT (MD)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -52.8% | +26.3% |
| 5-year return | -98.2% | +95.4% |
| Volatility (ann.) | 123.7% | 19.6% |
| Beta vs S&P 500 | 0.51 | 1.28 |
| Max drawdown (3Y) | -79.8% | -22.8% |
| Market cap | – | – |
| 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 | PW | QQQ |
|---|---|---|
| 2022 | -94.3% | -32.6% |
| 2023 | -83.5% | +54.9% |
| 2024 | +104.6% | +25.6% |
| 2025 | -33.8% | +20.8% |
| 2026 | -12.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PW and QQQ good diversifiers for each other?
Yes. With a correlation of 0.05, PW and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PW and QQQ?
As of 2026-08-27, the correlation of weekly returns between PW and QQQ is 0.05 over 3 years, 0.11 over 1 year and 0.12 over 5 years.
Is QQQ a good diversifier for PW?
Yes. With a correlation of 0.05, PW and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.05 mean?
A reading of 0.05 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PW correlations · QQQ correlations
