PSQ vs. SHOP
PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while SHOP (Shopify Inc.) is a stock. Over the past 10 years, PSQ returned -18.89%/yr vs 43.76%/yr for SHOP. At a correlation of -0.57, they often move in opposite directions.
Performance
PSQ vs. SHOP - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -14.61% return, which is significantly higher than SHOP's -23.87% return. Over the past 10 years, PSQ has underperformed SHOP with an annualized return of -18.89%, while SHOP has yielded a comparatively higher 43.76% annualized return.
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%
SHOP
- 1D
- -0.51%
- 1M
- 10.93%
- 6M
- -25.50%
- YTD
- -23.87%
- 1Y
- 9.30%
- 3Y*
- 24.73%
- 5Y*
- -3.90%
- 10Y*
- 43.76%
PSQ vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -14.61% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
SHOP Shopify Inc. | -23.87% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
Correlation
The correlation between PSQ and SHOP is -0.50, 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 | -0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.60 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | -0.57 |
The correlation between PSQ and SHOP shifts across timeframes, from -0.65 (5 years) to -0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSQ vs. SHOP — Risk / Return Rank
PSQ
SHOP
PSQ vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Shopify Inc. (SHOP). 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.
| PSQ | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.07 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 0.14 | -0.99 |
| Martin ratioReturn relative to average drawdown | -1.78 | 0.27 | -2.05 |
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Drawdowns
PSQ vs. SHOP - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, which is greater than SHOP's maximum drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for PSQ and SHOP.
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Drawdown Indicators
| PSQ | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -84.82% | -13.44% |
Max Drawdown (1Y)Largest decline over 1 year | -24.83% | -46.71% | +21.88% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -46.71% | -2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | -84.82% | +23.91% |
Max Drawdown (10Y)Largest decline over 10 years | -87.94% | -84.82% | -3.12% |
Current DrawdownCurrent decline from peak | -98.21% | -31.55% | -66.66% |
Average DrawdownAverage peak-to-trough decline | -74.08% | -28.27% | -45.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.80% | 24.21% | -12.41% |
Volatility
PSQ vs. SHOP - Volatility Comparison
The current volatility for ProShares Short QQQ (PSQ) is 8.64%, while Shopify Inc. (SHOP) has a volatility of 13.46%. This indicates that PSQ experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 13.46% | -4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.20% | 44.46% | -29.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.45% | 57.63% | -39.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.80% | 65.64% | -42.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 59.04% | -36.66% |
Dividends
PSQ vs. SHOP - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 4.49%, while SHOP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 4.49% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
SHOP Shopify Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSQ and SHOP have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (13.46%) compared to PSQ (8.64%). In terms of maximum drawdown, PSQ dropped -98.26% vs SHOP's -84.82%.
SHOP currently has the higher Sharpe Ratio (0.11 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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