HDB vs. PSQ
HDB (HDFC Bank Limited) is a stock, while PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%). Over the past 10 years, HDB returned 5.46%/yr vs -19.15%/yr for PSQ. At a correlation of -0.46, they often move in opposite directions.
Performance
HDB vs. PSQ - Performance Comparison
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Returns By Period
In the year-to-date period, HDB achieves a -33.85% return, which is significantly lower than PSQ's -14.02% return. Over the past 10 years, HDB has outperformed PSQ with an annualized return of 5.46%, while PSQ has yielded a comparatively lower -19.15% annualized return.
HDB
- 1D
- 1.51%
- 1M
- -2.70%
- YTD
- -33.85%
- 6M
- -32.66%
- 1Y
- -33.11%
- 3Y*
- -7.62%
- 5Y*
- -7.24%
- 10Y*
- 5.46%
PSQ
- 1D
- -0.65%
- 1M
- -0.23%
- YTD
- -14.02%
- 6M
- -14.04%
- 1Y
- -24.40%
- 3Y*
- -17.58%
- 5Y*
- -13.78%
- 10Y*
- -19.15%
HDB vs. PSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDB HDFC Bank Limited | -33.85% | 17.07% | -2.54% | 0.16% | 7.39% | -9.29% | 14.03% | 22.58% | 2.44% | 68.50% |
PSQ ProShares Short QQQ | -14.02% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
Correlation
The correlation between HDB and PSQ is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | -0.46 |
Over the past year, the inverse relationship between HDB and PSQ has weakened: their correlation has moved from -0.46 to -0.23, meaning they move in opposite directions less often than they have historically.
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Return for Risk
HDB vs. PSQ — Risk / Return Rank
HDB
PSQ
HDB vs. PSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HDFC Bank Limited (HDB) and ProShares Short QQQ (PSQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HDB | PSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.78 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.87 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.74 | -1.81 | +0.07 |
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Drawdowns
HDB vs. PSQ - Drawdown Comparison
The maximum HDB drawdown since its inception was -67.93%, smaller than the maximum PSQ drawdown of -98.26%. Use the drawdown chart below to compare losses from any high point for HDB and PSQ.
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Drawdown Indicators
| HDB | PSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.93% | -98.26% | +30.33% |
Max Drawdown (1Y)Largest decline over 1 year | -40.98% | -26.86% | -14.12% |
Max Drawdown (3Y)Largest decline over 3 years | -40.98% | -49.65% | +8.67% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -60.91% | +19.93% |
Max Drawdown (10Y)Largest decline over 10 years | -54.28% | -88.98% | +34.70% |
Current DrawdownCurrent decline from peak | -38.00% | -98.20% | +60.20% |
Average DrawdownAverage peak-to-trough decline | -13.80% | -73.99% | +60.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.09% | 12.96% | +7.13% |
Volatility
HDB vs. PSQ - Volatility Comparison
HDFC Bank Limited (HDB) has a higher volatility of 8.37% compared to ProShares Short QQQ (PSQ) at 7.39%. This indicates that HDB's price experiences larger fluctuations and is considered to be riskier than PSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDB | PSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 7.39% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 21.09% | 13.75% | +7.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.57% | 17.23% | +7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.84% | 22.59% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.07% | 22.34% | +6.73% |
Dividends
HDB vs. PSQ - Dividend Comparison
HDB's dividend yield for the trailing twelve months is around 3.51%, less than PSQ's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDB HDFC Bank Limited | 3.51% | 2.32% | 2.19% | 2.06% | 1.70% | 0.81% | 0.00% | 0.17% | 0.55% | 0.49% | 0.66% | 0.58% |
PSQ ProShares Short QQQ | 5.09% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% | 0.00% | 0.00% |
Frequently Asked Questions
HDB and PSQ have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDB has higher volatility (8.37%) compared to PSQ (7.39%). In terms of maximum drawdown, HDB dropped -67.93% vs PSQ's -98.26%.
PSQ currently has the higher Sharpe Ratio (-1.36 vs -1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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