GBAB vs QQQ: Correlation
Guggenheim Taxable Municipal Bond & Investment Grade Debt (GBAB) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBAB and QQQ?
On 3 years of weekly data the GBAB/QQQ correlation comes out at 0.13, weak. Lately the two have moved closer together, with the 1-year correlation at 0.47 versus 0.13 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 35.3 %².
QQQ is close to the least connected end of GBAB's tracked universe, ranking #8 of 11. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 27.3 percentage points (-1.0% for GBAB against +26.3% for QQQ).
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.
GBAB vs QQQ: side by side
| GBAB (Guggenheim Taxable Municipal Bond & Investment Grade Debt) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -1.0% | +26.3% |
| 5-year return | -11.9% | +95.4% |
| Volatility (ann.) | 13.5% | 19.6% |
| Beta vs S&P 500 | 0.20 | 1.28 |
| Max drawdown (3Y) | -17.3% | -22.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.00% | 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 | GBAB | QQQ |
|---|---|---|
| 2022 | -25.1% | -32.6% |
| 2023 | +8.6% | +54.9% |
| 2024 | +2.9% | +25.6% |
| 2025 | +8.4% | +20.8% |
| 2026 | -0.6% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBAB and QQQ good diversifiers for each other?
Yes. With a correlation of 0.13, GBAB and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GBAB and QQQ?
Using weekly returns as of 2026-08-27: 0.13 over 3 years, with 0.47 over the last year and 0.28 over 5 years.
Is QQQ a good diversifier for GBAB?
Yes. With a correlation of 0.13, GBAB and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.13 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/gbab-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gbab-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GBAB correlations · QQQ correlations
