OR vs QQQ: Correlation
Measured on weekly returns over the past three years, OR Royalties Inc. (OR) and Invesco QQQ Trust (QQQ) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OR and QQQ?
Over the past 3 years, OR and QQQ moved with a correlation of 0.28, which is weak. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 207.0 %².
QQQ is close to the least connected end of OR's tracked universe, ranking #10 of 13. Their 12-month results are close: +24.7% for OR against +26.3% for QQQ. One caveat on sizing: OR is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OR vs QQQ: side by side
| OR (OR Royalties Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +24.7% | +26.3% |
| 5-year return | +236.7% | +95.4% |
| Volatility (ann.) | 37.9% | 19.6% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -41.0% | -22.8% |
| Market cap | $7.2B | – |
| P/E (trailing) | 28.6 | – |
| Dividend yield | 0.60% | 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 | OR | QQQ |
|---|---|---|
| 2022 | +0.0% | -32.6% |
| 2023 | +19.8% | +54.9% |
| 2024 | +28.1% | +25.6% |
| 2025 | +96.4% | +20.8% |
| 2026 | +9.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OR and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OR and QQQ?
The OR/QQQ correlation stands at 0.28 on a 3-year window (1 year: 0.33, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for OR?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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/or-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: OR correlations · QQQ correlations
