QQQ vs RLAY: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Relay Therapeutics, Inc. (RLAY) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RLAY?
On 3 years of weekly data the QQQ/RLAY correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.40 over 3 years. The 5-year figure is 0.45, and annualized covariance runs at 556.6 %².
Among the 4755 assets we track against QQQ, RLAY ranks #635 by 3-year correlation. The last year tells two different stories: RLAY led by 417.7 percentage points, +26.3% for QQQ against +444.0% for RLAY. One caveat on sizing: RLAY is 3.6 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 RLAY: side by side
| QQQ (Invesco QQQ Trust) | RLAY (Relay Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +444.0% |
| 5-year return | +95.4% | -35.3% |
| Volatility (ann.) | 19.6% | 71.3% |
| Beta vs S&P 500 | 1.28 | 2.17 |
| Max drawdown (3Y) | -22.8% | -83.4% |
| Market cap | – | $4.3B |
| 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, 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 | RLAY |
|---|---|---|
| 2022 | -32.6% | -51.4% |
| 2023 | +54.9% | -26.3% |
| 2024 | +25.6% | -62.6% |
| 2025 | +20.8% | +105.3% |
| 2026 | +17.7% | +129.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RLAY good diversifiers for each other?
Reasonably. At 0.40, QQQ and RLAY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RLAY?
As of 2026-08-27, the correlation of weekly returns between QQQ and RLAY is 0.40 over 3 years, 0.27 over 1 year and 0.45 over 5 years.
Is RLAY a good diversifier for QQQ?
Reasonably. At 0.40, QQQ and RLAY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
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Related comparisons
Hubs: QQQ correlations · RLAY correlations
