GBTG vs QQQ: Correlation
Measured on weekly returns over the past three years, Global Business Travel Group, Inc. (GBTG) and Invesco QQQ Trust (QQQ) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBTG and QQQ?
Across a 3-year window, the weekly returns of GBTG and QQQ correlate at 0.39, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.39 over 3. Stretching to 5 years gives 0.29, with an annualized covariance of 389.1 %².
Within GBTG's tracked universe of 27 assets, QQQ comes in at #19 by 3-year correlation. On 12-month performance QQQ holds a 11.5-point edge, +14.8% against +26.3%. Risk is not evenly split, since GBTG carries 2.6 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.
GBTG vs QQQ: side by side
| GBTG (Global Business Travel Group, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +14.8% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 50.5% | 19.6% |
| Beta vs S&P 500 | 1.39 | 1.28 |
| Max drawdown (3Y) | -48.0% | -22.8% |
| Market cap | $4.9B | – |
| P/E (trailing) | 59.1 | – |
| 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 | GBTG | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | -4.4% | +54.9% |
| 2024 | +43.9% | +25.6% |
| 2025 | -17.6% | +20.8% |
| 2026 | +23.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBTG and QQQ good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GBTG and QQQ?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.42 over the last year and 0.29 over 5 years.
Is QQQ a good diversifier for GBTG?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
A reading of 0.39 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
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[](https://www.pairbook.io/pair/gbtg-vs-qqq/)
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Related comparisons
Hubs: GBTG correlations · QQQ correlations
