QQQ vs RMT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Royce Micro-Cap Trust, Inc. (RMT) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RMT?
Across a 3-year window, the weekly returns of QQQ and RMT correlate at 0.69, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 275.4 %².
Among the 4755 assets we track against QQQ, RMT ranks #70 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RMT ahead by 22.1 points (+26.3% versus +48.4%).
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 RMT: side by side
| QQQ (Invesco QQQ Trust) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +48.4% |
| 5-year return | +95.4% | +80.1% |
| Volatility (ann.) | 19.6% | 20.5% |
| Beta vs S&P 500 | 1.28 | 1.09 |
| Max drawdown (3Y) | -22.8% | -26.4% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.44% | 5.57% |
| 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 | RMT |
|---|---|---|
| 2022 | -32.6% | -16.8% |
| 2023 | +54.9% | +15.8% |
| 2024 | +25.6% | +14.0% |
| 2025 | +20.8% | +16.1% |
| 2026 | +17.7% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RMT good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between QQQ and RMT?
As of 2026-08-27, the correlation of weekly returns between QQQ and RMT is 0.69 over 3 years, 0.68 over 1 year and 0.72 over 5 years.
Is RMT a good diversifier for QQQ?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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.
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Related comparisons
Hubs: QQQ correlations · RMT correlations
