GEHC vs QQQ: Correlation
How closely do GE HealthCare (GEHC) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and QQQ?
On 3 years of weekly data the GEHC/QQQ correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.44). The 5-year figure is 0.44, and annualized covariance runs at 277.9 %².
Within GEHC's tracked universe of 52 assets, QQQ comes in at #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 28.5 percentage points (-2.2% for GEHC against +26.3% for QQQ). This link changes with the market regime, having swung between 0.10 and 0.76 on a rolling one-year basis. Risk is not evenly split, since GEHC carries 1.7 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.
GEHC vs QQQ: side by side
| GEHC (GE HealthCare) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -2.2% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 32.4% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -37.4% | -22.8% |
| Market cap | $32.7B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Health Care | 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 | GEHC | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | +32.6% | +54.9% |
| 2024 | +1.3% | +25.6% |
| 2025 | +5.1% | +20.8% |
| 2026 | -11.5% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
GEHC represents 0.15% of QQQ's portfolio, so part of any move in QQQ is GEHC itself, and the correlation between them is partly mechanical.
Are GEHC and QQQ good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GEHC and QQQ?
The GEHC/QQQ correlation stands at 0.44 on a 3-year window (1 year: 0.19, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for GEHC?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gehc-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gehc-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · QQQ correlations
