QQQ vs RDNW: Correlation
Invesco QQQ Trust (QQQ) and RideNow Group, Inc. (RDNW) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RDNW?
On 3 years of weekly data the QQQ/RDNW correlation comes out at 0.29, weak. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.29). The 5-year figure is 0.30, and annualized covariance runs at 452.4 %².
Within QQQ's tracked universe of 4755 assets, RDNW comes in at #1647 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RDNW ahead by 46.7 points (+26.3% versus +73.0%). One caveat on sizing: RDNW is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RDNW: side by side
| QQQ (Invesco QQQ Trust) | RDNW (RideNow Group, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +73.0% |
| 5-year return | +95.4% | -83.4% |
| Volatility (ann.) | 19.6% | 80.4% |
| Beta vs S&P 500 | 1.28 | 2.03 |
| Max drawdown (3Y) | -22.8% | -82.3% |
| Market cap | – | $0.2B |
| 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 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 | RDNW |
|---|---|---|
| 2022 | -32.6% | -84.4% |
| 2023 | +54.9% | +25.8% |
| 2024 | +25.6% | -33.3% |
| 2025 | +20.8% | +1.7% |
| 2026 | +17.7% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RDNW good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and RDNW?
As of 2026-08-27, the correlation of weekly returns between QQQ and RDNW is 0.29 over 3 years, 0.05 over 1 year and 0.30 over 5 years.
Is RDNW a good diversifier for QQQ?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-rdnw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-rdnw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · RDNW correlations
