JFR vs QQQ: Correlation
Measured on weekly returns over the past three years, Nuveen Floating Rate Income Fund (JFR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JFR and QQQ?
Over the past 3 years, JFR and QQQ moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 86.7 %².
QQQ is close to the least connected end of JFR's tracked universe, ranking #10 of 13. The last year tells two different stories: QQQ led by 24.0 percentage points, +2.3% for JFR against +26.3% for QQQ. Risk is not evenly split, since QQQ carries 2.0 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
JFR vs QQQ: side by side
| JFR (Nuveen Floating Rate Income Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.3% | +26.3% |
| 5-year return | +31.7% | +95.4% |
| Volatility (ann.) | 9.7% | 19.6% |
| Beta vs S&P 500 | 0.35 | 1.28 |
| Max drawdown (3Y) | -15.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 22.4 | – |
| Dividend yield | 13.47% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | JFR | QQQ |
|---|---|---|
| 2022 | -15.1% | -32.6% |
| 2023 | +16.7% | +54.9% |
| 2024 | +21.9% | +25.6% |
| 2025 | -0.7% | +20.8% |
| 2026 | +5.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JFR and QQQ good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JFR and QQQ?
The JFR/QQQ correlation stands at 0.45 on a 3-year window (1 year: 0.43, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for JFR?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jfr-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jfr-vs-qqq/)
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Related comparisons
Hubs: JFR correlations · QQQ correlations
