QQQ vs RSF: Correlation
How closely do Invesco QQQ Trust (QQQ) and RiverNorth Capital and Income Fund (RSF) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RSF?
On 3 years of weekly data the QQQ/RSF correlation comes out at 0.17, weak. Recent behaviour matches the longer record: 0.18 over 1 year against 0.17 over 3. The 5-year figure is 0.26, and annualized covariance runs at 18.3 %².
Within QQQ's tracked universe of 4755 assets, RSF comes in at #3192 by 3-year correlation. The last year tells two different stories: QQQ led by 16.2 percentage points, +26.3% for QQQ against +10.1% for RSF. One caveat on sizing: QQQ is 3.6 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 RSF: side by side
| QQQ (Invesco QQQ Trust) | RSF (RiverNorth Capital and Income Fund) | |
|---|---|---|
| 1-year return | +26.3% | +10.1% |
| 5-year return | +95.4% | +30.6% |
| Volatility (ann.) | 19.6% | 5.4% |
| Beta vs S&P 500 | 1.28 | 0.06 |
| Max drawdown (3Y) | -22.8% | -5.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 13.3 |
| Dividend yield | 0.44% | 0.00% |
| 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 | RSF |
|---|---|---|
| 2022 | -32.6% | -1.6% |
| 2023 | +54.9% | +3.8% |
| 2024 | +25.6% | +10.6% |
| 2025 | +20.8% | +4.6% |
| 2026 | +17.7% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RSF good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between QQQ and RSF?
Using weekly returns as of 2026-08-27: 0.17 over 3 years, with 0.18 over the last year and 0.26 over 5 years.
Is RSF a good diversifier for QQQ?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 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 · RSF correlations
