QQQ vs RMM: Correlation
Invesco QQQ Trust (QQQ) and RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RMM?
On 3 years of weekly data the QQQ/RMM correlation comes out at 0.34, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 95.3 %².
Within QQQ's tracked universe of 4755 assets, RMM comes in at #1139 by 3-year correlation. The trailing year gives QQQ the advantage: +26.3% versus +14.2%, a 12.1-point spread.
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 RMM: side by side
| QQQ (Invesco QQQ Trust) | RMM (RiverNorth Managed Duration Municipal Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +14.2% |
| 5-year return | +95.4% | -4.9% |
| Volatility (ann.) | 19.6% | 14.3% |
| Beta vs S&P 500 | 1.28 | 0.41 |
| Max drawdown (3Y) | -22.8% | -18.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 74.7 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | RMM |
|---|---|---|
| 2022 | -32.6% | -23.4% |
| 2023 | +54.9% | +5.9% |
| 2024 | +25.6% | +9.3% |
| 2025 | +20.8% | +2.1% |
| 2026 | +17.7% | +9.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RMM good diversifiers for each other?
Reasonably. At 0.34, QQQ and RMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RMM?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.43 over the last year and 0.37 over 5 years.
Is RMM a good diversifier for QQQ?
Reasonably. At 0.34, QQQ and RMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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-rmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-rmm/)
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Related comparisons
Hubs: QQQ correlations · RMM correlations
