PXS vs QQQ: Correlation
How closely do Pyxis Tankers Inc. (PXS) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PXS and QQQ?
On 3 years of weekly data the PXS/QQQ correlation comes out at 0.08, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.23) runs below the 3-year figure (0.08). The 5-year figure is 0.01, and annualized covariance runs at 60.9 %².
Among the 11 assets we track against PXS, QQQ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: PXS led by 73.7 percentage points, +100.0% for PXS against +26.3% for QQQ. Risk is not evenly split, since PXS carries 1.9 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.
PXS vs QQQ: side by side
| PXS (Pyxis Tankers Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +100.0% | +26.3% |
| 5-year return | +92.9% | +95.4% |
| Volatility (ann.) | 37.9% | 19.6% |
| Beta vs S&P 500 | 0.42 | 1.28 |
| Max drawdown (3Y) | -54.5% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.4 | – |
| 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 | PXS | QQQ |
|---|---|---|
| 2022 | +151.0% | -32.6% |
| 2023 | -13.5% | +54.9% |
| 2024 | -5.8% | +25.6% |
| 2025 | -28.5% | +20.8% |
| 2026 | +92.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PXS and QQQ good diversifiers for each other?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PXS and QQQ?
The PXS/QQQ correlation stands at 0.08 on a 3-year window (1 year: -0.23, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PXS?
Yes: at 0.08, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.08 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PXS correlations · QQQ correlations
