QQQ vs RXO: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and RXO, Inc. (RXO) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RXO?
On 3 years of weekly data the QQQ/RXO correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.28 over 1 year against 0.33 over 3. The 5-year figure is 0.37, and annualized covariance runs at 386.1 %².
By 3-year correlation, RXO places #1222 of the 4755 assets tracked against QQQ. Over the last 12 months RXO came out ahead by 11.0 percentage points (+26.3% against +37.3%). Risk is not evenly split, since RXO carries 3.1 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 RXO: side by side
| QQQ (Invesco QQQ Trust) | RXO (RXO, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +37.3% |
| 5-year return | +95.4% | n/a |
| Volatility (ann.) | 19.6% | 60.7% |
| Beta vs S&P 500 | 1.28 | 1.66 |
| Max drawdown (3Y) | -22.8% | -67.1% |
| Market cap | – | $3.7B |
| 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 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 | RXO |
|---|---|---|
| 2022 | -32.6% | – |
| 2023 | +54.9% | +35.2% |
| 2024 | +25.6% | +2.5% |
| 2025 | +20.8% | -47.0% |
| 2026 | +17.7% | +76.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RXO good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between QQQ and RXO?
The QQQ/RXO correlation stands at 0.33 on a 3-year window (1 year: 0.28, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is RXO a good diversifier for QQQ?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-rxo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-rxo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · RXO correlations
