QQQ vs RACE: Correlation
Invesco QQQ Trust (QQQ) and Ferrari N.V. (RACE) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RACE?
On 3 years of weekly data the QQQ/RACE correlation comes out at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.40). The 5-year figure is 0.52, and annualized covariance runs at 256.8 %².
Within QQQ's tracked universe of 4755 assets, RACE comes in at #633 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 37.1 points (+26.3% versus -10.8%). Note the risk asymmetry: RACE runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
QQQ vs RACE: side by side
| QQQ (Invesco QQQ Trust) | RACE (Ferrari N.V.) | |
|---|---|---|
| 1-year return | +26.3% | -10.8% |
| 5-year return | +95.4% | +98.0% |
| Volatility (ann.) | 19.6% | 32.9% |
| Beta vs S&P 500 | 1.28 | 0.99 |
| Max drawdown (3Y) | -22.8% | -39.2% |
| Market cap | – | $72.8B |
| P/E (trailing) | – | 38.2 |
| Dividend yield | 0.44% | 0.88% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
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 | QQQ | RACE |
|---|---|---|
| 2022 | -32.6% | -16.7% |
| 2023 | +54.9% | +59.1% |
| 2024 | +25.6% | +26.3% |
| 2025 | +20.8% | -12.3% |
| 2026 | +17.7% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RACE good diversifiers for each other?
Reasonably. At 0.40, QQQ and RACE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RACE?
The QQQ/RACE correlation stands at 0.40 on a 3-year window (1 year: 0.27, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is RACE a good diversifier for QQQ?
Reasonably. At 0.40, QQQ and RACE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: QQQ correlations · RACE correlations
