QQQX vs RDDT: Correlation
Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund (QQQX) and Reddit (RDDT) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQX and RDDT?
Over the past 3 years, QQQX and RDDT moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 725.3 %².
Among the 20 assets we track against QQQX, RDDT ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQX outperformed by 51.5 percentage points (+24.4% for QQQX against -27.1% for RDDT). Risk is not evenly split, since RDDT carries 4.2 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.
QQQX vs RDDT: side by side
| QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund - Closed End Fund) | RDDT (Reddit) | |
|---|---|---|
| 1-year return | +24.4% | -27.1% |
| 5-year return | +51.0% | n/a |
| Volatility (ann.) | 18.1% | 75.2% |
| Beta vs S&P 500 | 1.09 | 2.59 |
| Max drawdown (3Y) | -22.8% | -61.4% |
| Market cap | $1.5B | $29.6B |
| P/E (trailing) | 8.1 | 36.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | QQQX | RDDT |
|---|---|---|
| 2022 | -27.4% | – |
| 2023 | +21.7% | – |
| 2024 | +25.6% | – |
| 2025 | +14.9% | +40.6% |
| 2026 | +13.1% | -33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQX and RDDT good diversifiers for each other?
Only partially. A correlation of 0.53 means QQQX and RDDT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QQQX and RDDT?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.59 over the last year and n/a over 5 years.
Is RDDT a good diversifier for QQQX?
Only partially. A correlation of 0.53 means QQQX and RDDT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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/qqqx-vs-rddt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqqx-vs-rddt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQX correlations · RDDT correlations
