PZG vs QQQ: Correlation
Measured on weekly returns over the past three years, Paramount Gold Nevada Corp. (PZG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.07, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PZG and QQQ?
Over the past 3 years, PZG and QQQ moved with a correlation of 0.07, which is near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.24 versus 0.07 over 3 years. Over 5 years the correlation is 0.17, and the annualized covariance of weekly returns is 87.4 %².
QQQ is close to the least connected end of PZG's tracked universe, ranking #7 of 10. The last year tells two different stories: PZG led by 31.6 percentage points, +57.9% for PZG against +26.3% for QQQ. Risk is not evenly split, since PZG carries 3.1 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.
PZG vs QQQ: side by side
| PZG (Paramount Gold Nevada Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +57.9% | +26.3% |
| 5-year return | +73.0% | +95.4% |
| Volatility (ann.) | 60.9% | 19.6% |
| Beta vs S&P 500 | 0.50 | 1.28 |
| Max drawdown (3Y) | -60.3% | -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 | PZG | QQQ |
|---|---|---|
| 2022 | -50.6% | -32.6% |
| 2023 | +8.7% | +54.9% |
| 2024 | -8.8% | +25.6% |
| 2025 | +268.4% | +20.8% |
| 2026 | +19.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PZG and QQQ good diversifiers for each other?
Yes. With a correlation of 0.07, PZG and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PZG and QQQ?
The PZG/QQQ correlation stands at 0.07 on a 3-year window (1 year: 0.24, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PZG?
Yes. With a correlation of 0.07, PZG and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.07 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.
Use this data
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Related comparisons
Hubs: PZG correlations · QQQ correlations
