KREF vs QQQ: Correlation
KKR Real Estate Finance Trust Inc. (KREF) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KREF and QQQ?
On 3 years of weekly data the KREF/QQQ correlation comes out at 0.21, weak. Lately the two have moved closer together, with the 1-year correlation at 0.33 versus 0.21 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 131.1 %².
Out of 13 assets tracked against KREF, QQQ lands near the bottom at #9. The last year tells two different stories: QQQ led by 36.3 percentage points, -10.0% for KREF against +26.3% for QQQ. Risk is not evenly split, since KREF carries 1.6 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.
KREF vs QQQ: side by side
| KREF (KKR Real Estate Finance Trust Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -10.0% | +26.3% |
| 5-year return | -38.4% | +95.4% |
| Volatility (ann.) | 32.2% | 19.6% |
| Beta vs S&P 500 | 0.66 | 1.28 |
| Max drawdown (3Y) | -44.9% | -22.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 11.26% | 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 | KREF | QQQ |
|---|---|---|
| 2022 | -25.9% | -32.6% |
| 2023 | +9.2% | +54.9% |
| 2024 | -15.8% | +25.6% |
| 2025 | -9.3% | +20.8% |
| 2026 | -2.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KREF and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KREF and QQQ?
The KREF/QQQ correlation stands at 0.21 on a 3-year window (1 year: 0.33, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for KREF?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: KREF correlations · QQQ correlations
