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 42.67%/yr vs -18.20%/yr for PSQ. Their -0.57 correlation means they have often moved in opposite directions in the past.
Performance
SHOP vs. PSQ - Performance Comparison
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Returns By Period
In the year-to-date period, SHOP achieves a -27.22% return, which is significantly lower than PSQ's -9.94% return. Over the past 10 years, SHOP has outperformed PSQ with an annualized return of 42.67%, while PSQ has yielded a comparatively lower -18.20% annualized return.
SHOP
- 1D
- -4.29%
- 1M
- -3.68%
- 6M
- -10.73%
- YTD
- -27.22%
- 1Y
- -4.14%
- 3Y*
- 20.20%
- 5Y*
- -4.82%
- 10Y*
- 42.67%
- ALL TIME*
- 39.59%
PSQ
- 1D
- -0.59%
- 1M
- 5.59%
- 6M
- -9.19%
- YTD
- -9.94%
- 1Y
- -15.69%
- 3Y*
- -15.05%
- 5Y*
- -11.74%
- 10Y*
- -18.20%
- ALL TIME*
- -16.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $270.27M | $217.80M | $219.49M | |
SHOP Shopify Inc. | $1.12B | $980.06M | $1.18B |
SHOP vs. PSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHOP Shopify Inc. | -27.22% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
PSQ ProShares Short QQQ | -9.94% | -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 -0.45, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.45 |
Correlation (3Y) Balances recent behavior with more history. | -0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.60 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | -0.57 |
The correlation between SHOP and PSQ shifts across timeframes, from -0.64 (5 years) to -0.45 (1 year), reflecting how their relationship changes across market environments.
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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.
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.
| SHOP | PSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.88 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.63 | +0.55 |
| Martin ratioReturn relative to average drawdown | -0.16 | -1.23 | +1.07 |
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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% | -24.83% | -21.88% |
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% | -87.66% | +2.84% |
Current DrawdownCurrent decline from peak | -34.56% | -98.12% | +63.56% |
Average DrawdownAverage peak-to-trough decline | -28.29% | -74.15% | +45.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.40% | 12.73% | +12.67% |
Volatility
SHOP vs. PSQ - Volatility Comparison
Shopify Inc. (SHOP) has a higher volatility of 16.38% compared to ProShares Short QQQ (PSQ) at 6.96%. 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 | 16.38% | 6.96% | +9.42% |
Volatility (6M)Calculated over the trailing 6-month period | 45.57% | 16.03% | +29.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.84% | 19.38% | +39.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.90% | 22.93% | +42.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.22% | 22.46% | +36.76% |
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 4.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 4.26% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHOP has higher volatility (16.38%) compared to PSQ (6.96%). In terms of maximum drawdown, SHOP dropped -84.82% vs PSQ's -98.26%.
SHOP currently has the higher Sharpe Ratio (-0.07 vs -0.81), 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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