PDD vs. PSQ
PDD (PDD Holdings Inc.) is a stock, while PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%). Over the past 5 years, PDD returned -5.18%/yr vs -12.87%/yr for PSQ. At a correlation of -0.40, they often move in opposite directions.
Performance
PDD vs. PSQ - Performance Comparison
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Returns By Period
In the year-to-date period, PDD achieves a -24.92% return, which is significantly lower than PSQ's -14.61% return.
PDD
- 1D
- -0.87%
- 1M
- 4.71%
- 6M
- -29.38%
- YTD
- -24.92%
- 1Y
- -18.85%
- 3Y*
- 6.22%
- 5Y*
- -5.18%
- 10Y*
- —
PSQ
- 1D
- -0.27%
- 1M
- -1.33%
- 6M
- -12.99%
- YTD
- -14.61%
- 1Y
- -21.29%
- 3Y*
- -17.50%
- 5Y*
- -12.87%
- 10Y*
- -18.89%
PDD vs. PSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PDD PDD Holdings Inc. | -24.92% | 16.91% | -33.71% | 79.41% | 39.88% | -67.19% | 369.78% | 68.54% | -15.32% |
PSQ ProShares Short QQQ | -14.61% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | 16.17% |
Correlation
The correlation between PDD and PSQ is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2018 | -0.40 |
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Return for Risk
PDD vs. PSQ — Risk / Return Rank
PDD
PSQ
PDD vs. PSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PDD Holdings Inc. (PDD) 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.
| PDD | PSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.82 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.85 | +0.45 |
| Martin ratioReturn relative to average drawdown | -0.84 | -1.78 | +0.94 |
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Drawdowns
PDD vs. PSQ - Drawdown Comparison
The maximum PDD drawdown since its inception was -87.41%, smaller than the maximum PSQ drawdown of -98.26%. Use the drawdown chart below to compare losses from any high point for PDD and PSQ.
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Drawdown Indicators
| PDD | PSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.41% | -98.26% | +10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -46.93% | -24.83% | -22.10% |
Max Drawdown (3Y)Largest decline over 3 years | -53.48% | -49.65% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -77.22% | -60.91% | -16.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.94% | — |
Current DrawdownCurrent decline from peak | -58.03% | -98.21% | +40.18% |
Average DrawdownAverage peak-to-trough decline | -39.51% | -74.08% | +34.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.53% | 11.80% | +10.73% |
Volatility
PDD vs. PSQ - Volatility Comparison
PDD Holdings Inc. (PDD) has a higher volatility of 11.70% compared to ProShares Short QQQ (PSQ) at 8.64%. This indicates that PDD'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
| PDD | PSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.70% | 8.64% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 26.66% | 15.20% | +11.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.79% | 18.45% | +15.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.03% | 22.80% | +45.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.18% | 22.38% | +46.80% |
Dividends
PDD vs. PSQ - Dividend Comparison
PDD has not paid dividends to shareholders, while PSQ's dividend yield for the trailing twelve months is around 4.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PDD PDD Holdings Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSQ ProShares Short QQQ | 4.49% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
Frequently Asked Questions
PDD and PSQ have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDD has higher volatility (11.70%) compared to PSQ (8.64%). In terms of maximum drawdown, PDD dropped -87.41% vs PSQ's -98.26%.
PDD currently has the higher Sharpe Ratio (-0.56 vs -1.14), 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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