GAP vs QQQ: Correlation
Gap, Inc. (The) (GAP) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAP and QQQ?
Across a 3-year window, the weekly returns of GAP and QQQ correlate at 0.23, weak. Recent behaviour matches the longer record: 0.16 over 1 year against 0.23 over 3. Stretching to 5 years gives 0.36, with an annualized covariance of 241.0 %².
Among the 11 assets we track against GAP, QQQ sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 30.2 percentage points (-3.9% for GAP against +26.3% for QQQ). Risk is not evenly split, since GAP carries 2.8 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.
GAP vs QQQ: side by side
| GAP (Gap, Inc. (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -3.9% | +26.3% |
| 5-year return | -5.3% | +95.4% |
| Volatility (ann.) | 54.0% | 19.6% |
| Beta vs S&P 500 | 1.17 | 1.28 |
| Max drawdown (3Y) | -38.0% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 3.17% | 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 | GAP | QQQ |
|---|---|---|
| 2022 | -32.6% | -32.6% |
| 2023 | +96.7% | +54.9% |
| 2024 | +16.1% | +25.6% |
| 2025 | +11.7% | +20.8% |
| 2026 | -16.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAP and QQQ good diversifiers for each other?
Reasonably. At 0.23, GAP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GAP and QQQ?
Using weekly returns as of 2026-08-27: 0.23 over 3 years, with 0.16 over the last year and 0.36 over 5 years.
Is QQQ a good diversifier for GAP?
Reasonably. At 0.23, GAP and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 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
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Related comparisons
Hubs: GAP correlations · QQQ correlations
