SHOP vs. PSQ
SHOP (Shopify Inc.) is a stock, while PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%). Over the past 10 years, SHOP returned 44.31%/yr vs -19.02%/yr for PSQ. At a correlation of -0.58, they often move in opposite directions.
Performance
SHOP vs. PSQ - Performance Comparison
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Returns By Period
In the year-to-date period, SHOP achieves a -31.18% return, which is significantly lower than PSQ's -13.33% return. Over the past 10 years, SHOP has outperformed PSQ with an annualized return of 44.31%, while PSQ has yielded a comparatively lower -19.02% annualized return.
SHOP
- 1D
- 1.13%
- 1M
- 0.34%
- YTD
- -31.18%
- 6M
- -30.07%
- 1Y
- -0.57%
- 3Y*
- 21.77%
- 5Y*
- -1.84%
- 10Y*
- 44.31%
PSQ
- 1D
- -1.51%
- 1M
- -0.61%
- YTD
- -13.33%
- 6M
- -11.75%
- 1Y
- -23.25%
- 3Y*
- -18.03%
- 5Y*
- -13.88%
- 10Y*
- -19.02%
SHOP vs. PSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -31.18% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
PSQ ProShares Short QQQ | -13.33% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
Correlation
The correlation between SHOP and PSQ is -0.56, 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 | -0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since May 22, 2015 | -0.58 |
The correlation between SHOP and PSQ has been stable across timeframes, ranging from -0.66 to -0.56 - a consistent structural relationship.
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Return for Risk
SHOP vs. PSQ — Risk / Return Rank
SHOP
PSQ
SHOP vs. PSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shopify Inc. (SHOP) 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.
| SHOP | PSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.78 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | -0.87 | +0.86 |
| Martin ratioReturn relative to average drawdown | -0.03 | -1.84 | +1.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHOP | PSQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | -1.39 | +1.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | -0.62 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | -0.86 | +1.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | -0.76 | +1.44 |
Drawdowns
SHOP vs. PSQ - Drawdown Comparison
The maximum SHOP drawdown since its inception was -84.82%, smaller than the maximum PSQ drawdown of -98.26%. Use the drawdown chart below to compare losses from any high point for SHOP and PSQ.
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Drawdown Indicators
| SHOP | PSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.82% | -98.26% | +13.44% |
Max Drawdown (1Y)Largest decline over 1 year | -46.71% | -26.86% | -19.85% |
Max Drawdown (3Y)Largest decline over 3 years | -46.71% | -49.65% | +2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -84.82% | -60.91% | -23.91% |
Max Drawdown (10Y)Largest decline over 10 years | -84.82% | -88.98% | +4.16% |
Current DrawdownCurrent decline from peak | -38.12% | -98.19% | +60.07% |
Average DrawdownAverage peak-to-trough decline | -28.22% | -73.99% | +45.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.74% | 12.63% | +9.11% |
Volatility
SHOP vs. PSQ - Volatility Comparison
Shopify Inc. (SHOP) has a higher volatility of 17.86% compared to ProShares Short QQQ (PSQ) at 6.66%. This indicates that SHOP'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
| SHOP | PSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.86% | 6.66% | +11.20% |
Volatility (6M)Calculated over the trailing 6-month period | 43.67% | 13.15% | +30.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.27% | 16.80% | +40.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.57% | 22.53% | +43.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.09% | 22.31% | +36.78% |
Dividends
SHOP vs. PSQ - Dividend Comparison
SHOP has not paid dividends to shareholders, while PSQ's dividend yield for the trailing twelve months is around 5.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 5.05% | 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
SHOP and PSQ have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (17.86%) compared to PSQ (6.66%). In terms of maximum drawdown, SHOP dropped -84.82% vs PSQ's -98.26%.
SHOP currently has the higher Sharpe Ratio (-0.01 vs -1.39), 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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