QQQ vs RY: Correlation
Invesco QQQ Trust (QQQ) and Royal Bank Of Canada (RY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and RY?
On 3 years of weekly data the QQQ/RY correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 126.9 %².
Among the 4755 assets we track against QQQ, RY ranks #636 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RY outperformed by 16.3 percentage points (+26.3% for QQQ against +42.6% for RY).
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 RY: side by side
| QQQ (Invesco QQQ Trust) | RY (Royal Bank Of Canada) | |
|---|---|---|
| 1-year return | +26.3% | +42.6% |
| 5-year return | +95.4% | +132.0% |
| Volatility (ann.) | 19.6% | 16.1% |
| Beta vs S&P 500 | 1.28 | 0.57 |
| Max drawdown (3Y) | -22.8% | -14.6% |
| Market cap | – | $283.2B |
| P/E (trailing) | – | 18.7 |
| 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 | RY |
|---|---|---|
| 2022 | -32.6% | -8.0% |
| 2023 | +54.9% | +12.2% |
| 2024 | +25.6% | +23.8% |
| 2025 | +20.8% | +45.2% |
| 2026 | +17.7% | +21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and RY good diversifiers for each other?
Reasonably. At 0.40, QQQ and RY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QQQ and RY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.38 over the last year and 0.46 over 5 years.
Is RY a good diversifier for QQQ?
Reasonably. At 0.40, QQQ and RY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/qqq-vs-ry.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-ry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · RY correlations
