Does someone know why inverse ETF doesn’t correlate?


I wanted to trade inverse qqq etf but I've noticed that the biggest inverse qqq etf which is psq is not correlated to qqq at all.

In 1 year qqq increased 45% but psq went down by -27% in the same time frame.

Does anyone know why is it like that? From everything I read online it should be a 1:1 ratio between them (one is negative though of course)


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