QQQ vs RGLD: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Royal Gold, Inc. (RGLD) carry a correlation of 0.22, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RGLD?
Over the past 3 years, QQQ and RGLD moved with a correlation of 0.22, which is weak. Little has changed lately, as the 1-year reading of 0.24 lands near the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 150.7 %².
By 3-year correlation, RGLD places #2582 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months RGLD outperformed by 27.0 percentage points (+26.3% for QQQ against +53.3% for RGLD). Note the risk asymmetry: RGLD runs 1.8 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 RGLD: side by side
| QQQ (Invesco QQQ Trust) | RGLD (Royal Gold, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +53.3% |
| 5-year return | +95.4% | +156.8% |
| Volatility (ann.) | 19.6% | 35.8% |
| Beta vs S&P 500 | 1.28 | 0.64 |
| Max drawdown (3Y) | -22.8% | -38.2% |
| Market cap | – | $22.8B |
| P/E (trailing) | – | 29.5 |
| Dividend yield | 0.44% | 0.36% |
| 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 | RGLD |
|---|---|---|
| 2022 | -32.6% | +8.5% |
| 2023 | +54.9% | +8.7% |
| 2024 | +25.6% | +10.4% |
| 2025 | +20.8% | +70.4% |
| 2026 | +17.7% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RGLD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and RGLD?
As of 2026-08-27, the correlation of weekly returns between QQQ and RGLD is 0.22 over 3 years, 0.24 over 1 year and 0.27 over 5 years.
Is RGLD a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.22 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.22 mean?
On the −1 to +1 scale, 0.22 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-rgld.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-rgld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · RGLD correlations
