QQQ vs RARE: Correlation
Invesco QQQ Trust (QQQ) and Ultragenyx Pharmaceutical Inc. (RARE) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RARE?
Across a 3-year window, the weekly returns of QQQ and RARE correlate at 0.36, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.36 over 3. Stretching to 5 years gives 0.35, with an annualized covariance of 355.7 %².
By 3-year correlation, RARE places #959 of the 4755 assets tracked against QQQ. The last year tells two different stories: QQQ led by 39.0 percentage points, +26.3% for QQQ against -12.7% for RARE. Risk is not evenly split, since RARE carries 2.6 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 RARE: side by side
| QQQ (Invesco QQQ Trust) | RARE (Ultragenyx Pharmaceutical Inc.) | |
|---|---|---|
| 1-year return | +26.3% | -12.7% |
| 5-year return | +95.4% | -72.6% |
| Volatility (ann.) | 19.6% | 51.1% |
| Beta vs S&P 500 | 1.28 | 1.38 |
| Max drawdown (3Y) | -22.8% | -68.8% |
| Market cap | – | $2.6B |
| 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 |
QQQ, Invesco's Large Growth fund, carries $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | RARE |
|---|---|---|
| 2022 | -32.6% | -44.9% |
| 2023 | +54.9% | +3.2% |
| 2024 | +25.6% | -12.0% |
| 2025 | +20.8% | -45.3% |
| 2026 | +17.7% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RARE good diversifiers for each other?
Reasonably. At 0.36, QQQ and RARE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RARE?
The QQQ/RARE correlation stands at 0.36 on a 3-year window (1 year: 0.43, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is RARE a good diversifier for QQQ?
Reasonably. At 0.36, QQQ and RARE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-rare.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-rare/)
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Related comparisons
Hubs: QQQ correlations · RARE correlations
