ORC vs QQQ: Correlation
How closely do Orchid Island Capital, Inc. (ORC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORC and QQQ?
Across a 3-year window, the weekly returns of ORC and QQQ correlate at 0.38, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.38). Stretching to 5 years gives 0.41, with an annualized covariance of 196.6 %².
QQQ is close to the least connected end of ORC's tracked universe, ranking #11 of 14. The trailing year gives QQQ the advantage: +15.7% versus +26.3%, a 10.6-point spread.
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.
ORC vs QQQ: side by side
| ORC (Orchid Island Capital, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +15.7% | +26.3% |
| 5-year return | -33.9% | +95.4% |
| Volatility (ann.) | 26.1% | 19.6% |
| Beta vs S&P 500 | 0.84 | 1.28 |
| Max drawdown (3Y) | -36.6% | -22.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 20.69% | 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 | ORC | QQQ |
|---|---|---|
| 2022 | -44.3% | -32.6% |
| 2023 | -3.1% | +54.9% |
| 2024 | +9.9% | +25.6% |
| 2025 | +12.7% | +20.8% |
| 2026 | +4.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORC and QQQ good diversifiers for each other?
Reasonably. At 0.38, ORC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ORC and QQQ?
As of 2026-08-27, the correlation of weekly returns between ORC and QQQ is 0.38 over 3 years, 0.16 over 1 year and 0.41 over 5 years.
Is QQQ a good diversifier for ORC?
Reasonably. At 0.38, ORC and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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
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Related comparisons
Hubs: ORC correlations · QQQ correlations
