pennant vs accolade

pennant and accolade both are nouns.

Word	Noun	Adjective	Verb	Adverb
pennant	Yes	No	No	No
accolade	Yes	No	No	No

As nouns, accolade is a hypernym of pennant; that is, accolade is a word with a broader meaning than pennant:

Other hypernyms of pennant include award, honor, honour, laurels.

pennant (noun)	accolade (noun)
a long flag; often tapering	a tangible symbol signifying approval or distinction
a flag longer than it is wide (and often tapering)
the award given to the champion