QQQ vs RPRX: Correlation
How closely do Invesco QQQ Trust (QQQ) and Royalty Pharma plc - Class A (RPRX) trade together? Their weekly returns over three years give a correlation of 0.06, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RPRX?
Over the past 3 years, QQQ and RPRX moved with a correlation of 0.06, which is near zero, meaning they move largely independently. The past 12 months show a weaker link (-0.08) than the 3-year average (0.06). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 24.7 %².
Within QQQ's tracked universe of 4755 assets, RPRX comes in at #4132 by 3-year correlation. The last year tells two different stories: RPRX led by 48.7 percentage points, +26.3% for QQQ against +75.0% for RPRX.
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 RPRX: side by side
| QQQ (Invesco QQQ Trust) | RPRX (Royalty Pharma plc - Class A) | |
|---|---|---|
| 1-year return | +26.3% | +75.0% |
| 5-year return | +95.4% | +78.4% |
| Volatility (ann.) | 19.6% | 21.2% |
| Beta vs S&P 500 | 1.28 | 0.24 |
| Max drawdown (3Y) | -22.8% | -20.7% |
| Market cap | – | $35.8B |
| P/E (trailing) | – | 33.3 |
| Dividend yield | 0.44% | 1.47% |
| 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 | RPRX |
|---|---|---|
| 2022 | -32.6% | +1.0% |
| 2023 | +54.9% | -27.1% |
| 2024 | +25.6% | -6.4% |
| 2025 | +20.8% | +55.3% |
| 2026 | +17.7% | +62.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RPRX good diversifiers for each other?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between QQQ and RPRX?
The QQQ/RPRX correlation stands at 0.06 on a 3-year window (1 year: -0.08, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is RPRX a good diversifier for QQQ?
Yes: at 0.06, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.06 mean?
On the −1 to +1 scale, 0.06 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-rprx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-rprx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · RPRX correlations
