GECC vs QQQ: Correlation
How closely do Great Elm Capital Corp. - Closed End Fund (GECC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.24, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GECC and QQQ?
Over the past 3 years, GECC and QQQ moved with a correlation of 0.24, which is weak. The link has tightened recently: the 1-year correlation (0.36) runs above the 3-year figure (0.24). Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 143.9 %².
By 3-year correlation, QQQ places #8 of the 13 assets tracked against GECC. The last year tells two different stories: QQQ led by 62.5 percentage points, -36.2% for GECC against +26.3% for QQQ. One caveat on sizing: GECC is 1.6 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.
GECC vs QQQ: side by side
| GECC (Great Elm Capital Corp. - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -36.2% | +26.3% |
| 5-year return | -40.4% | +95.4% |
| Volatility (ann.) | 30.5% | 19.6% |
| Beta vs S&P 500 | 0.62 | 1.28 |
| Max drawdown (3Y) | -54.0% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 21.54% | 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 | GECC | QQQ |
|---|---|---|
| 2022 | -47.4% | -32.6% |
| 2023 | +49.4% | +54.9% |
| 2024 | +18.9% | +25.6% |
| 2025 | -25.4% | +20.8% |
| 2026 | -6.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GECC and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GECC and QQQ?
The GECC/QQQ correlation stands at 0.24 on a 3-year window (1 year: 0.36, 5 years: 0.19), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GECC?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 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: GECC correlations · QQQ correlations
