QQQ vs RXT: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Rackspace Technology, Inc. (RXT) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RXT?
Across a 3-year window, the weekly returns of QQQ and RXT correlate at 0.25, weak. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Stretching to 5 years gives 0.27, with an annualized covariance of 1140.1 %².
Within QQQ's tracked universe of 4755 assets, RXT comes in at #2162 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RXT outperformed by 153.0 percentage points (+26.3% for QQQ against +179.3% for RXT). Note the risk asymmetry: RXT runs 11.7 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 RXT: side by side
| QQQ (Invesco QQQ Trust) | RXT (Rackspace Technology, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +179.3% |
| 5-year return | +95.4% | -75.7% |
| Volatility (ann.) | 19.6% | 230.1% |
| Beta vs S&P 500 | 1.28 | 3.34 |
| Max drawdown (3Y) | -22.8% | -86.5% |
| Market cap | – | $0.9B |
| 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 | RXT |
|---|---|---|
| 2022 | -32.6% | -78.1% |
| 2023 | +54.9% | -32.2% |
| 2024 | +25.6% | +10.5% |
| 2025 | +20.8% | -56.1% |
| 2026 | +17.7% | +248.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RXT good diversifiers for each other?
Reasonably. At 0.25, QQQ and RXT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RXT?
The QQQ/RXT correlation stands at 0.25 on a 3-year window (1 year: 0.35, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is RXT a good diversifier for QQQ?
Reasonably. At 0.25, QQQ and RXT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 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-rxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-rxt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · RXT correlations
