PACK vs QQQ: Correlation
How closely do Ranpak Holdings Corp (PACK) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PACK and QQQ?
On 3 years of weekly data the PACK/QQQ correlation comes out at 0.29, weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.29). The 5-year figure is 0.38, and annualized covariance runs at 429.2 %².
QQQ is close to the least connected end of PACK's tracked universe, ranking #11 of 14. The last year tells two different stories: QQQ led by 33.2 percentage points, -6.9% for PACK against +26.3% for QQQ. Risk is not evenly split, since PACK carries 3.8 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.
PACK vs QQQ: side by side
| PACK (Ranpak Holdings Corp) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -6.9% | +26.3% |
| 5-year return | -83.7% | +95.4% |
| Volatility (ann.) | 75.3% | 19.6% |
| Beta vs S&P 500 | 1.81 | 1.28 |
| Max drawdown (3Y) | -64.5% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| 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 | PACK | QQQ |
|---|---|---|
| 2022 | -84.6% | -32.6% |
| 2023 | +0.9% | +54.9% |
| 2024 | +18.2% | +25.6% |
| 2025 | -21.4% | +20.8% |
| 2026 | -7.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PACK and QQQ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PACK and QQQ?
The PACK/QQQ correlation stands at 0.29 on a 3-year window (1 year: 0.40, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PACK?
Yes, to a useful degree: a correlation of 0.29 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.29 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
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Related comparisons
Hubs: PACK correlations · QQQ correlations
