QQQ vs RNW: Correlation
How closely do Invesco QQQ Trust (QQQ) and ReNew Energy Global plc - Class A Shares (RNW) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RNW?
Across a 3-year window, the weekly returns of QQQ and RNW correlate at 0.21, weak. The relationship has been stable: the 1-year correlation (0.25) sits close to the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 146.9 %².
Among the 4755 assets we track against QQQ, RNW ranks #2731 by 3-year correlation. The last year tells two different stories: QQQ led by 37.8 percentage points, +26.3% for QQQ against -11.5% for RNW. Risk is not evenly split, since RNW carries 1.8 times the volatility of the other side.
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 RNW: side by side
| QQQ (Invesco QQQ Trust) | RNW (ReNew Energy Global plc - Class A Shares) | |
|---|---|---|
| 1-year return | +26.3% | -11.5% |
| 5-year return | +95.4% | -26.6% |
| Volatility (ann.) | 19.6% | 35.5% |
| Beta vs S&P 500 | 1.28 | 0.53 |
| Max drawdown (3Y) | -22.8% | -45.1% |
| Market cap | – | $2.5B |
| P/E (trailing) | – | 22.0 |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | RNW |
|---|---|---|
| 2022 | -32.6% | -29.3% |
| 2023 | +54.9% | +39.3% |
| 2024 | +25.6% | -10.8% |
| 2025 | +20.8% | -17.3% |
| 2026 | +17.7% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RNW good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and RNW?
As of 2026-08-27, the correlation of weekly returns between QQQ and RNW is 0.21 over 3 years, 0.25 over 1 year and 0.28 over 5 years.
Is RNW a good diversifier for QQQ?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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-rnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-rnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · RNW correlations
