QQQ vs REPX: Correlation
How closely do Invesco QQQ Trust (QQQ) and Riley Exploration Permian, Inc. (REPX) trade together? Their weekly returns over three years give a correlation of 0.08, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and REPX?
Over the past 3 years, QQQ and REPX moved with a correlation of 0.08, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.39) than the 3-year average (0.08). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 70.6 %².
Within QQQ's tracked universe of 4755 assets, REPX comes in at #4002 by 3-year correlation. The trailing year gives REPX the advantage: +26.3% versus +39.8%, a 13.5-point spread. Risk is not evenly split, since REPX carries 2.3 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 REPX: side by side
| QQQ (Invesco QQQ Trust) | REPX (Riley Exploration Permian, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +39.8% |
| 5-year return | +95.4% | +145.9% |
| Volatility (ann.) | 19.6% | 46.0% |
| Beta vs S&P 500 | 1.28 | 0.58 |
| Max drawdown (3Y) | -22.8% | -38.0% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 6.7 |
| Dividend yield | 0.44% | 4.27% |
| 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 | REPX |
|---|---|---|
| 2022 | -32.6% | +60.2% |
| 2023 | +54.9% | -3.9% |
| 2024 | +25.6% | +23.8% |
| 2025 | +20.8% | -12.7% |
| 2026 | +17.7% | +50.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and REPX good diversifiers for each other?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and REPX?
Using weekly returns as of 2026-08-27: 0.08 over 3 years, with -0.39 over the last year and 0.20 over 5 years.
Is REPX a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.08 means the two rarely move for the same reasons.
What does a correlation of 0.08 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-repx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-repx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · REPX correlations
