DGICB vs QQQ: Correlation
How closely do Donegal Group, Inc. (DGICB) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.04, which is near-zero.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGICB and QQQ?
On 3 years of weekly data the DGICB/QQQ correlation comes out at 0.04, near zero, meaning they move largely independently. Lately the two have moved closer together, with the 1-year correlation at 0.16 versus 0.04 over 3 years. The 5-year figure is -0.01, and annualized covariance runs at 31.4 %².
Within DGICB's tracked universe of 19 assets, QQQ comes in at #8 by 3-year correlation. The last year tells two different stories: DGICB led by 42.0 percentage points, +68.3% for DGICB against +26.3% for QQQ. Risk is not evenly split, since DGICB carries 2.1 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.
DGICB vs QQQ: side by side
| DGICB (Donegal Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +68.3% | +26.3% |
| 5-year return | +82.3% | +95.4% |
| Volatility (ann.) | 41.5% | 19.6% |
| Beta vs S&P 500 | 0.15 | 1.28 |
| Max drawdown (3Y) | -30.3% | -22.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 3.00% | 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 | DGICB | QQQ |
|---|---|---|
| 2022 | +25.8% | -32.6% |
| 2023 | -6.8% | +54.9% |
| 2024 | +1.6% | +25.6% |
| 2025 | +30.8% | +20.8% |
| 2026 | +34.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGICB and QQQ good diversifiers for each other?
Yes. With a correlation of 0.04, DGICB and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DGICB and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.16 over the last year and -0.01 over 5 years.
Is QQQ a good diversifier for DGICB?
Yes. With a correlation of 0.04, DGICB and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.04 mean?
A reading of 0.04 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/dgicb-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgicb-vs-qqq/)
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Related comparisons
Hubs: DGICB correlations · QQQ correlations
