DGICA vs QQQ: Correlation
Measured on weekly returns over the past three years, Donegal Group, Inc. (DGICA) and Invesco QQQ Trust (QQQ) carry a correlation of 0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICA and QQQ?
Over the past 3 years, DGICA and QQQ moved with a correlation of 0.01, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of -0.02 lands near the 3-year figure. Over 5 years the correlation is 0.06, and the annualized covariance of weekly returns is 2.6 %².
Among the 12 assets we track against DGICA, QQQ ranks #7 by 3-year correlation. The trailing year gives QQQ the advantage: +12.6% versus +26.3%, a 13.7-point spread.
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.
DGICA vs QQQ: side by side
| DGICA (Donegal Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +12.6% | +26.3% |
| 5-year return | +57.1% | +95.4% |
| Volatility (ann.) | 23.2% | 19.6% |
| Beta vs S&P 500 | 0.18 | 1.28 |
| Max drawdown (3Y) | -20.4% | -22.8% |
| Market cap | $0.7B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 3.87% | 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 | DGICA | QQQ |
|---|---|---|
| 2022 | +4.0% | -32.6% |
| 2023 | +3.2% | +54.9% |
| 2024 | +15.9% | +25.6% |
| 2025 | +34.7% | +20.8% |
| 2026 | -2.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICA and QQQ good diversifiers for each other?
Yes. With a correlation of 0.01, DGICA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGICA and QQQ?
Using weekly returns as of 2026-08-27: 0.01 over 3 years, with -0.02 over the last year and 0.06 over 5 years.
Is QQQ a good diversifier for DGICA?
Yes. With a correlation of 0.01, DGICA and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.01 mean?
On the −1 to +1 scale, 0.01 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DGICA correlations · QQQ correlations
