QQQ vs RNGR: Correlation
How closely do Invesco QQQ Trust (QQQ) and Ranger Energy Services, Inc. (RNGR) trade together? Their weekly returns over three years give a correlation of 0.10, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RNGR?
Over the past 3 years, QQQ and RNGR moved with a correlation of 0.10, which is weak. The link has loosened recently: the 1-year correlation (-0.02) runs below the 3-year figure (0.10). Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is 75.0 %².
By 3-year correlation, RNGR places #3858 of the 4755 assets tracked against QQQ. The trailing year gives QQQ the advantage: +26.3% versus +19.0%, a 7.3-point spread. One caveat on sizing: RNGR is 1.9 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 RNGR: side by side
| QQQ (Invesco QQQ Trust) | RNGR (Ranger Energy Services, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +19.0% |
| 5-year return | +95.4% | +129.0% |
| Volatility (ann.) | 19.6% | 37.1% |
| Beta vs S&P 500 | 1.28 | 0.49 |
| Max drawdown (3Y) | -22.8% | -40.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.44% | 1.52% |
| 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 | RNGR |
|---|---|---|
| 2022 | -32.6% | +7.2% |
| 2023 | +54.9% | -6.3% |
| 2024 | +25.6% | +53.9% |
| 2025 | +20.8% | -7.9% |
| 2026 | +17.7% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RNGR good diversifiers for each other?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and RNGR?
Using weekly returns as of 2026-08-27: 0.10 over 3 years, with -0.02 over the last year and 0.05 over 5 years.
Is RNGR a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.10 means the two rarely move for the same reasons.
What does a correlation of 0.10 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 · RNGR correlations
