QQQ vs RJF: Correlation
Invesco QQQ Trust (QQQ) and Raymond James Financial (RJF) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RJF?
Across a 3-year window, the weekly returns of QQQ and RJF correlate at 0.46, moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.46). Stretching to 5 years gives 0.49, with an annualized covariance of 223.9 %².
Within QQQ's tracked universe of 4755 assets, RJF comes in at #388 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 20.0 percentage points (+26.3% for QQQ against +6.3% for RJF). The rolling one-year correlation moved between 0.20 and 0.69 over the past three years, a moderate range.
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 RJF: side by side
| QQQ (Invesco QQQ Trust) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | +26.3% | +6.3% |
| 5-year return | +95.4% | +102.1% |
| Volatility (ann.) | 19.6% | 24.8% |
| Beta vs S&P 500 | 1.28 | 1.03 |
| Max drawdown (3Y) | -22.8% | -28.1% |
| Market cap | – | $33.8B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 0.44% | 1.20% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | Financials |
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 | RJF |
|---|---|---|
| 2022 | -32.6% | +8.3% |
| 2023 | +54.9% | +6.1% |
| 2024 | +25.6% | +40.8% |
| 2025 | +20.8% | +4.7% |
| 2026 | +17.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RJF good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and RJF?
The QQQ/RJF correlation stands at 0.46 on a 3-year window (1 year: 0.23, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for QQQ?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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-rjf.json
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[](https://www.pairbook.io/pair/qqq-vs-rjf/)
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Related comparisons
Hubs: QQQ correlations · RJF correlations
