GCL vs QQQ: Correlation
Measured on weekly returns over the past three years, GCL Global Holdings Ltd (GCL) and Invesco QQQ Trust (QQQ) carry a correlation of 0.04, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCL and QQQ?
Over the past 3 years, GCL and QQQ moved with a correlation of 0.04, which is near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.05 lands near the 3-year figure. Over 5 years the correlation is 0.03, and the annualized covariance of weekly returns is 69.0 %².
Among the 10 assets we track against GCL, QQQ sits near the bottom by co-movement, at rank #6. The last year tells two different stories: QQQ led by 107.3 percentage points, -81.0% for GCL against +26.3% for QQQ. One caveat on sizing: GCL is 4.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GCL vs QQQ: side by side
| GCL (GCL Global Holdings Ltd) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -81.0% | +26.3% |
| 5-year return | -93.2% | +95.4% |
| Volatility (ann.) | 85.9% | 19.6% |
| Beta vs S&P 500 | 0.21 | 1.28 |
| Max drawdown (3Y) | -96.7% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | GCL | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +6.1% | +54.9% |
| 2024 | +6.9% | +25.6% |
| 2025 | -90.7% | +20.8% |
| 2026 | -36.9% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCL and QQQ good diversifiers for each other?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GCL and QQQ?
Using weekly returns as of 2026-08-27: 0.04 over 3 years, with 0.05 over the last year and 0.03 over 5 years.
Is QQQ a good diversifier for GCL?
Yes: at 0.04, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.04 mean?
A reading of 0.04 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GCL correlations · QQQ correlations
