GBX vs QQQ: Correlation
Measured on weekly returns over the past three years, Greenbrier Companies, Inc. (The) (GBX) and Invesco QQQ Trust (QQQ) carry a correlation of 0.18, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBX and QQQ?
Over the past 3 years, GBX and QQQ moved with a correlation of 0.18, which is weak. The past 12 months show a weaker link (-0.19) than the 3-year average (0.18). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 125.0 %².
Among the 11 assets we track against GBX, QQQ sits near the bottom by co-movement, at rank #7. Correlation aside, the last 12 months split them widely, with QQQ ahead by 25.8 points (+0.5% versus +26.3%). Note the risk asymmetry: GBX runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GBX vs QQQ: side by side
| GBX (Greenbrier Companies, Inc. (The)) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +0.5% | +26.3% |
| 5-year return | +19.2% | +95.4% |
| Volatility (ann.) | 36.2% | 19.6% |
| Beta vs S&P 500 | 0.71 | 1.28 |
| Max drawdown (3Y) | -43.7% | -22.8% |
| Market cap | $1.4B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 2.81% | 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 | GBX | QQQ |
|---|---|---|
| 2022 | -24.8% | -32.6% |
| 2023 | +36.3% | +54.9% |
| 2024 | +41.3% | +25.6% |
| 2025 | -21.3% | +20.8% |
| 2026 | +0.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBX and QQQ good diversifiers for each other?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GBX and QQQ?
The GBX/QQQ correlation stands at 0.18 on a 3-year window (1 year: -0.19, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GBX?
Yes: at 0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.18 mean?
A reading of 0.18 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/gbx-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gbx-vs-qqq/)
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Related comparisons
Hubs: GBX correlations · QQQ correlations
