NRO vs QQQ: Correlation
Neuberger Real Estate Securities Income Fund Inc. (NRO) and Invesco QQQ Trust (QQQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRO and QQQ?
Over the past 3 years, NRO and QQQ moved with a correlation of 0.41, which is moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 151.8 %².
Among the 17 assets we track against NRO, QQQ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with QQQ ahead by 23.8 points (+2.5% versus +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.
NRO vs QQQ: side by side
| NRO (Neuberger Real Estate Securities Income Fund Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +2.5% | +26.3% |
| 5-year return | +2.7% | +95.4% |
| Volatility (ann.) | 18.9% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -24.8% | -22.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.2 | – |
| Dividend yield | 0.00% | 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 | NRO | QQQ |
|---|---|---|
| 2022 | -35.1% | -32.6% |
| 2023 | +15.1% | +54.9% |
| 2024 | +23.8% | +25.6% |
| 2025 | +0.8% | +20.8% |
| 2026 | +5.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRO and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NRO and QQQ?
The NRO/QQQ correlation stands at 0.41 on a 3-year window (1 year: 0.39, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for NRO?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/nro-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nro-vs-qqq/)
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Related comparisons
Hubs: NRO correlations · QQQ correlations
