QQQ vs RANI: Correlation
How closely do Invesco QQQ Trust (QQQ) and Rani Therapeutics Holdings, Inc. (RANI) trade together? Their weekly returns over three years give a correlation of 0.12, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RANI?
Across a 3-year window, the weekly returns of QQQ and RANI correlate at 0.12, weak. The relationship has been stable: the 1-year correlation (0.20) sits close to the 3-year figure. Stretching to 5 years gives 0.11, with an annualized covariance of 419.9 %².
By 3-year correlation, RANI places #3684 of the 4755 assets tracked against QQQ. The last year tells two different stories: RANI led by 25.4 percentage points, +26.3% for QQQ against +51.7% for RANI. Note the risk asymmetry: RANI runs 8.9 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 RANI: side by side
| QQQ (Invesco QQQ Trust) | RANI (Rani Therapeutics Holdings, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +51.7% |
| 5-year return | +95.4% | -95.2% |
| Volatility (ann.) | 19.6% | 174.6% |
| Beta vs S&P 500 | 1.28 | 1.62 |
| Max drawdown (3Y) | -22.8% | -94.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| 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 | RANI |
|---|---|---|
| 2022 | -32.6% | -63.9% |
| 2023 | +54.9% | -43.7% |
| 2024 | +25.6% | -58.7% |
| 2025 | +20.8% | -1.5% |
| 2026 | +17.7% | -36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RANI good diversifiers for each other?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and RANI?
Using weekly returns as of 2026-08-27: 0.12 over 3 years, with 0.20 over the last year and 0.11 over 5 years.
Is RANI a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.12 means the two rarely move for the same reasons.
What does a correlation of 0.12 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
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-rani.json
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Related comparisons
Hubs: QQQ correlations · RANI correlations
