NREF vs QQQ: Correlation
Measured on weekly returns over the past three years, NexPoint Real Estate Finance, Inc. (NREF) and Invesco QQQ Trust (QQQ) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NREF and QQQ?
On 3 years of weekly data the NREF/QQQ correlation comes out at 0.21, weak. The relationship has been stable: the 1-year correlation (0.19) sits close to the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 116.8 %².
Out of 12 assets tracked against NREF, QQQ lands near the bottom at #9. Over the last 12 months NREF came out ahead by 5.7 percentage points (+32.0% against +26.3%).
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.
NREF vs QQQ: side by side
| NREF (NexPoint Real Estate Finance, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +32.0% | +26.3% |
| 5-year return | +54.2% | +95.4% |
| Volatility (ann.) | 28.5% | 19.6% |
| Beta vs S&P 500 | 0.63 | 1.28 |
| Max drawdown (3Y) | -24.0% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.3 | – |
| Dividend yield | 11.63% | 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 | NREF | QQQ |
|---|---|---|
| 2022 | -8.9% | -32.6% |
| 2023 | +17.4% | +54.9% |
| 2024 | +13.5% | +25.6% |
| 2025 | +2.3% | +20.8% |
| 2026 | +32.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NREF 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 NREF and QQQ?
The NREF/QQQ correlation stands at 0.21 on a 3-year window (1 year: 0.19, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NREF?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nref-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nref-vs-qqq/)
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Related comparisons
Hubs: NREF correlations · QQQ correlations
