QQQ vs RAND: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Rand Capital Corporation - Closed End Fund (RAND) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RAND?
Across a 3-year window, the weekly returns of QQQ and RAND correlate at 0.01, near zero, meaning they move largely independently. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.01). Stretching to 5 years gives -0.01, with an annualized covariance of 9.2 %².
Within QQQ's tracked universe of 4755 assets, RAND comes in at #4440 by 3-year correlation. The last year tells two different stories: QQQ led by 48.0 percentage points, +26.3% for QQQ against -21.7% for RAND. Risk is not evenly split, since RAND carries 2.0 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.
QQQ vs RAND: side by side
| QQQ (Invesco QQQ Trust) | RAND (Rand Capital Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | +26.3% | -21.7% |
| 5-year return | +95.4% | +9.9% |
| Volatility (ann.) | 19.6% | 38.7% |
| Beta vs S&P 500 | 1.28 | -0.01 |
| Max drawdown (3Y) | -22.8% | -60.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 10.33% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | RAND |
|---|---|---|
| 2022 | -32.6% | -17.0% |
| 2023 | +54.9% | +7.5% |
| 2024 | +25.6% | +91.4% |
| 2025 | +20.8% | -34.8% |
| 2026 | +17.7% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RAND good diversifiers for each other?
Yes. With a correlation of 0.01, QQQ and RAND have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and RAND?
The QQQ/RAND correlation stands at 0.01 on a 3-year window (1 year: -0.11, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is RAND a good diversifier for QQQ?
Yes. With a correlation of 0.01, QQQ and RAND have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 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/qqq-vs-rand.json
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Related comparisons
Hubs: QQQ correlations · RAND correlations
