QQQ vs ROIV: Correlation
Invesco QQQ Trust (QQQ) and Roivant Sciences Ltd. (ROIV) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and ROIV?
On 3 years of weekly data the QQQ/ROIV correlation comes out at 0.31, moderate. Recent behaviour matches the longer record: 0.23 over 1 year against 0.31 over 3. The 5-year figure is 0.24, and annualized covariance runs at 219.6 %².
By 3-year correlation, ROIV places #1425 of the 4755 assets tracked against QQQ. Their recent paths diverged sharply: over the last 12 months ROIV outperformed by 187.1 percentage points (+26.3% for QQQ against +213.4% for ROIV). Note the risk asymmetry: ROIV runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ROIV: side by side
| QQQ (Invesco QQQ Trust) | ROIV (Roivant Sciences Ltd.) | |
|---|---|---|
| 1-year return | +26.3% | +213.4% |
| 5-year return | +95.4% | +278.1% |
| Volatility (ann.) | 19.6% | 36.0% |
| Beta vs S&P 500 | 1.28 | 0.91 |
| Max drawdown (3Y) | -22.8% | -36.5% |
| Market cap | – | $27.1B |
| 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 | ROIV |
|---|---|---|
| 2022 | -32.6% | -20.7% |
| 2023 | +54.9% | +40.6% |
| 2024 | +25.6% | +5.3% |
| 2025 | +20.8% | +83.4% |
| 2026 | +17.7% | +73.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and ROIV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between QQQ and ROIV?
The QQQ/ROIV correlation stands at 0.31 on a 3-year window (1 year: 0.23, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is ROIV a good diversifier for QQQ?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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-roiv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/qqq-vs-roiv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QQQ correlations · ROIV correlations
