CGAU vs QQQ: Correlation
How closely do Centerra Gold Inc. (CGAU) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGAU and QQQ?
Over the past 3 years, CGAU and QQQ moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.44) runs above the 3-year figure (0.32). Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 288.2 %².
Out of 20 assets tracked against CGAU, QQQ lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with CGAU ahead by 187.1 points (+213.4% versus +26.3%). Risk is not evenly split, since CGAU carries 2.3 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.
CGAU vs QQQ: side by side
| CGAU (Centerra Gold Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +213.4% | +26.3% |
| 5-year return | +269.1% | +95.4% |
| Volatility (ann.) | 45.7% | 19.6% |
| Beta vs S&P 500 | 1.13 | 1.28 |
| Max drawdown (3Y) | -29.5% | -22.8% |
| Market cap | $4.7B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 0.84% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
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 | CGAU | QQQ |
|---|---|---|
| 2022 | -30.2% | -32.6% |
| 2023 | +19.4% | +54.9% |
| 2024 | -1.4% | +25.6% |
| 2025 | +156.7% | +20.8% |
| 2026 | +70.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGAU and QQQ good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGAU and QQQ?
As of 2026-08-27, the correlation of weekly returns between CGAU and QQQ is 0.32 over 3 years, 0.44 over 1 year and 0.28 over 5 years.
Is QQQ a good diversifier for CGAU?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 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/cgau-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgau-vs-qqq/)
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Related comparisons
Hubs: CGAU correlations · QQQ correlations
