QQQ vs RJET: Correlation
How closely do Invesco QQQ Trust (QQQ) and Republic Airways Holdings Inc. (RJET) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RJET?
Across a 3-year window, the weekly returns of QQQ and RJET correlate at 0.24, weak. Recent behaviour matches the longer record: 0.25 over 1 year against 0.24 over 3. Stretching to 5 years gives 0.30, with an annualized covariance of 425.0 %².
Among the 4755 assets we track against QQQ, RJET ranks #2309 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.8 points (+26.3% versus +0.5%). Note the risk asymmetry: RJET runs 4.5 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 RJET: side by side
| QQQ (Invesco QQQ Trust) | RJET (Republic Airways Holdings Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +0.5% |
| 5-year return | +95.4% | -84.5% |
| Volatility (ann.) | 19.6% | 89.1% |
| Beta vs S&P 500 | 1.28 | 1.76 |
| Max drawdown (3Y) | -22.8% | -70.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 12.2 |
| 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 | RJET |
|---|---|---|
| 2022 | -32.6% | -72.7% |
| 2023 | +54.9% | -34.0% |
| 2024 | +25.6% | +14.9% |
| 2025 | +20.8% | +5.6% |
| 2026 | +17.7% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RJET good diversifiers for each other?
Reasonably. At 0.24, QQQ and RJET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RJET?
As of 2026-08-27, the correlation of weekly returns between QQQ and RJET is 0.24 over 3 years, 0.25 over 1 year and 0.30 over 5 years.
Is RJET a good diversifier for QQQ?
Reasonably. At 0.24, QQQ and RJET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.24 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-rjet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-rjet/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · RJET correlations
