GAB vs QQQ: Correlation
Measured on weekly returns over the past three years, Gabelli Equity Trust, Inc. (The) (GAB) and Invesco QQQ Trust (QQQ) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAB and QQQ?
Over the past 3 years, GAB and QQQ moved with a correlation of 0.53, which is moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.53). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 168.2 %².
Within GAB's tracked universe of 16 assets, QQQ comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQ ahead by 20.5 points (+5.8% versus +26.3%).
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.
GAB vs QQQ: side by side
| GAB (Gabelli Equity Trust, Inc. (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +5.8% | +26.3% |
| 5-year return | +40.3% | +95.4% |
| Volatility (ann.) | 16.2% | 19.6% |
| Beta vs S&P 500 | 0.72 | 1.28 |
| Max drawdown (3Y) | -14.8% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 10.54% | 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 | GAB | QQQ |
|---|---|---|
| 2022 | -16.3% | -32.6% |
| 2023 | +3.4% | +54.9% |
| 2024 | +18.0% | +25.6% |
| 2025 | +27.0% | +20.8% |
| 2026 | -1.4% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAB and QQQ good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GAB and QQQ?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.37 over the last year and 0.56 over 5 years.
Is QQQ a good diversifier for GAB?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gab-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gab-vs-qqq/)
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Related comparisons
Hubs: GAB correlations · QQQ correlations
